Ann: London Investment Bank Initiates Research on Crusader, page-5

Thanks spid. Umm, I'm hesitant to write this post. There must be something I've misunderstood and I'm about to be the fool, with that in mind.

Unless I'm mistaken, the pdf says that the current SP (for the report) is $0.069 with a market cap of $23.8M. Their twelve month target is $0.225 with a market cap of $60.4M. Which represents a 226% increase.

I must be doing something wrong going by their figures. No analyst could get this wrong surely. However:

$23.8M divided by 0.069 = around 345M shares.
$60.4M divided by 0.225 = around 268M shares???

Err, I'm not aware of CAS announcing a share buyback program. I'm only aware of future dilution in the number of shares.

Also, I'm not sure what the 226% increase is supposed to match up with. Neither the SP or market cap match the 226% analysis target!