Hi m12 et al,It should be noted that if the stock were to get to...

Hi m12 et al,

It should be noted that if the stock were to get to 20c, its mkt cap fully dilted would be approx $24 million.

They have 63m ords, 34m 15c oppies and another 15m unlisted 20c oppies.

Tecnically the mkt cap is only $8 mil at the moment because the options are not in the money, but people should just be aware that the mkt will be significantly higher once the options are in the money.

Given the value of their investment in wti is approx A$10m at the moment and the fact that the comapny has failed to produce one quarter of positive operating and investing cash inflows (except for March qtr which was a cash inflow of $13k), I would say that 15c may be the fair value, giving it a mkt cap fully diluted of $16m.

I understand that Ezenet may be on track to meeting their budget of 18,584 rooms (budget stated in half yearly report) as evidenced by their progress report on 13/6/06 but I dont believe this alone will materially increase the value of the company.

You are probably better off buying shares in wti directly.

Just my opinion

Cheers