My back of the napkin calculations are similar to yours. On $800m revs I see EBITDA between 104-112m. Unlike you however I don't see them paying a dividend that quickly, it may take 2-3 years.
NTA/share is around $1.70, forward p/e of 4
Current share price of $0.68 seems extraordinarily cheap no matter how i slice it, although debt still remains a concern to some extent.
I feel really bad for the longer term holders. I believe the Board could/should have been held legally accountable for their negligence in handling takeover interest over the past year, but seems that will not happen.
My average is $1.01, so I actually hope for more emotion driven selling / shorting so I can average down further.
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