Add up the figures in the acquisition announcements (Brand New Media, Payless Entertainment, Visual Entertainment Group, Rajon, Central Station Records / MRA) and you will see $6.0m is more realistic.
On that basis, FY'07 EPS could be 2c, which is very cheap give the growth profile. The strong balance sheet means that there is additional scope for accretive acquisitions.
Sentiment is currently against this stock, the rights issue and June 8 trading means that there are stale bulls wanting out ... I expect that it will turn around sooner rather than later, and wouldn't be suprised if it doubled in the next year.
DES Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
