Ann: Trading Halt, page-20

So appears that the first six months generated 5.8m free cash and only 2.2m for the last 6 months. My guess is that ebitda for the full year is (low guess) 6m.

With 240m shares on issue at 20c gives a market cap of 48m. Cash balance of 25m. Ev is around 23m.

Ev/ebitda 23/6 of 3.8 at the 20c level. Cheapish but the future revenues is the question now. Let's see how the funds are spent and if there are some near term contracts. And then we will see the re rate