$5.9 Mil minus the $3.5Mil we just paid for the balance 50% of a business that since we purchased it, gone from a profit generating business to a loss making business...
So now we have in the last 12 months:
1. Sold the business that was the most profitable.
2. Continue to hang our hopes on the business that made a profit of $37,574. Which in fairness to the directors - is an improvement.
3. Purchased the balance of Statseeker, which was purchased in 2013 for $6.75 Mil with an EBITA of $1.8Mil (Our share 50% cost $3.375), for $3.5Mil which now has an EBITA loss of almost $200k excluding inter company charges...
I feel that the current share price is expensive.
TCN Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
