2 other points worth mentioning.
MNY paid in excess of $1m for the cash train business, so it's likely there will be a non cash write down on the sale of the non auto business.
Secondly without the unsecured loan business, which has a stigma & issues with funding MNY comes into play as a potential takeover target. That alone should increase the PE.
Ann: Money3 Secures $150m Debt Facility, page-31
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