Based on the most recent quarterly, SHP is operating on a...

Based on the most recent quarterly, SHP is operating on a healthier margin than GEG. Yes I know this is not a like-for-like comparison (SHP quarterly vs GEG half-yearly), but let's say that SHP's gross margin was and stays at ~18% (equivalent to cost of goods sold), and on SHP's comment that "the systems and staff were able to comfortably manage higher volumes" during peak periods of Christmas/New Year, then one could assume that staff cost as well as advertising would remain at same level if not lower. Wild guessing $4.2m in revenue for this current quarter (mid point betw $3.5m and $4.8m from past 2 quarters), SHP is still a cash-flow positive business. This compares favourably with that of GEG running on a ~1% net margin being predominantly a fire-sell/discounted goods business.

Seeing that SHP is now in the same sentence when GEG is being mentioned ("Crean pins $30m as the magic cashflow number" in The Australian), one would not discount the likelihood of GEG potentially taking over SHP, especially when SHP keeps scaling up and improving on margins. GEG has $14m cash in the bank, so who knows if it makes sense to take advantage of SHP's low EV now and make a move before it's too late?

Some 350m shares traded in the past 12 months when share price was above 3c. Let's see if the big seller still has legs to maintain the downward pressure whilst SHP starts to get more and more attention and coverage, unless this is possibly a GEG warm-up play?