Enterprise Value = market cap + debt.
With still a significant debt burden after the restructure - you would be remiss to ignore this part of the equation.
However, depending on how the numbers actually fall together, I agree that the company "could" be terribly cheap.
More clarification is required from management regarding that announcement yesterday. I think it brought about more questions than answers, hence the inability for the market to positively re-rate what was an exciting headline result.
Enterprise Value = market cap + debt. With still a significant...
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