The core school business may be worth approx $5M. That looks like a good, steady business.
It's near impossible to estimate what the watch business is worth - need to see a few years of steady profits first. I'm afraid profits will be hard to get in a competitive retail environment for such a small business. We can only look at sales for now. With less than $10M in annual sales, I probably won't pay more than $5M for the watch business at point in time. (Price/Sales of 0.5 seems reasonable for retail electronics).
That comes to a total market cap of 10M. So I won't pay more than 80c per share at this point in time. (Before anyone here freaks out. I’m not forecasting this price)
In mean time there are good value in other out-of-favour companies.
