Looking at the numbers on CDR. Lets see it has debt used of $247million It bought Volante for $147million.Lets say Volante is worth less now due to the problems say $120 million.This would leave a debt of $127million EBITDA before Volante in 2005 was $49.1 million extrapulated to say 4 year payback value $196.4 million. Take the $196.4 million less $127 million debt leaves $69.4 million
$69.4 million equals 30c a share
This calculation makes assumptions as to values
CDR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
