News: CDD Cardno seeks trading halt, page-42

On my calcs, there will be about 480m shares on issue post raise. At 40cps that's $192m. But they will still have $85m of debt, so even assuming they make $45m (remembering CDD's recent history of hitting its numbers isn't great...) the EV works out to nearly $280m, making a p/e of 6.2x. That doesn't seem to be a bargain for a company in this space and with this track record. Say you want to make 50% on your money - who's going to pay 60cps / 9.3x? Perhaps someone will, but that someone sure won't be me.