if this was a company in an industry that has no growth... I...

if this was a company in an industry that has no growth... I would agree...

but this company is headed by a group of people who have proven success in growth through acquisition... case in point... on a very rough working... they raised about 40m in equity last year... and on the face of it ... looks like their increase in cash flow is quite a lot larger than that.

to me this seems like greencross in the early days... still a lot more room for acquisition.

If the current mob were not going to do any more deals. I would agree... fully valued.

but with no debt... and strong cash flow... I think by December 2017 this might be a very different company.