Basics - At listing I use 75 million shares including the options. Market Cap at 35c is 35x75m = 26 million.
I have net cash closer to $4m (BP debt, mining assets, SPA cash and capital raising). So my Enterprise Value is $22m.
Fact is $20m or $22m we are splitting hairs - when my expectations is for BP revenues growing at a fast rate of knots towards hopefully $100m in 2/3 year time frame.
Not a big ask to see EBITDA this year at $3m, making BP trading at only 7 times.
BP has mentioned that they will be participating in consolidating the "cloud" industry. If they are well advised they will be issuing BP shares to buy up companies only on highly earnings accretive basis.
Picked up a few today.
SC - only 19m shares on issue right now - you'll have to declare "substantial" owning just 1 million shares.
A lot of info will be out with the EGM papers very soon.
perfect timing, page-12
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