Valuation

I stumbled across EOS last week through a friend and perhaps some of you can help me out with some questions.

Cash at hand at a quarterly basis can be a volatile number, but at the end of Q2 2014 cash came in at 1,541.000. Management stated at the end of last month that cash at the end of Q2 2015 will exceed 10 million. So, at least plus 8,5 million at an annual basis. The enterprise value is just 44,5 million dollar (56,75 million shares x share price 0,96 dollar minus 10 million cash). Are we looking at a value trap or is management correct in repeatedly saying in the company update of the 29th of may: "OUR TIME HAS COME"?

The company seems to have invested around 100 million in the years past and products are market ready. Will lower investments indeed drive profits? The new orders in 2015 look encouraging. Besides, I do like the fact that there has been no dilution of shares over the years.