RAPers please comment, page-31

When MNQ annc the Epat acquistion they mentioned a float to raise $3m at 1.3c which adding the vendor shares had a shares on issue of 900M. This disclosure of the capital structure post acquisition is a ASX requirement for reverse takeover scenarios. It is important to remember the float is not in reality going to be done at 1.3c , that price was chosen given the share price at the time of the announcement. Indeed it is looking more likely that the float will be much higher but is dependant upon the share price and the demand for the float. So it is more likely we will see 800-850M shares on issue.

However taking worse scenario of 900M at 10c gives a $90M market cap. At times markets provide good comparisons to other companies which on value which astute investors are able to profit from. RAP after their float late last year has had a sustained run up to and maintained a circa $120M market cap(assuming prior to their recent $12M raise).

SO there is plenty of value to be added in MNQ in relative short period of time (as seen by RAP last 6 months), which at MNQ = 10c ($90M) is still well underneath the valuation the market is placing on RAP recently.

It would not surprise me if we soon see investors company switching by taking profits out of RAP and moving into MNQ, and taking advantage of the earlier business cycle MNQ is in, (basically when RAP was at 2c last year, and going to 30c)