Fully diluted market value at 20c if it gets there will be some...

Fully diluted market value at 20c if it gets there will be some $18m including the listed and unlisted 20c options and performance shares also the proposed 500K to be raised at 15c to soph investors , options don't expire till mid 2017 so it may take some time to get the cash.

Ebit of ICT is around $1m based on recent acquisitions and the existing icollege startup. Soph investors will be getting 1.6m free 20c options as well so suspect some of them will be selling their 3.3m shares they eventually get at 15c.

Cash left when next quarterly reports in JAN will be around $0.7m after paying $1m for acquisition and working capital , the other 500K for acquisition to be funded by soph investors. Outstanding payments of $2.5m for latest acquisiton due based on ebit performance hurdles over 3 years.

I suspect next acquisitions may involve issuing shares or a mixture of shares and cash. Would like to know the uptake of their cloud college courses.