NuRAN Wireless Inc C.NUR

Undervalued

[lscfa]

 

Sites	150	400	1000	2000	4000
Rev $2.5k/mo	4,500,000	12,000,000	30,000,000	60,000,000	120,000,000
70% ebitda	3,150,000	8,400,000	21,000,000	42,000,000	84,000,000
Corp costs	(7,500,000)	(8,000,000)	(9,000,000)	(10,000,000)	(12,000,000)
ebitda	(4,350,000)	400,000	12,000,000	32,000,000	72,000,000
Multiple	10	10	10	10	10
Ent value	(43,500,000)	4,000,000	120,000,000	320,000,000	720,000,000
Debt $25k/site	3,750,000	10,000,000	25,000,000	50,000,000	100,000,000
Equity value	(47,250,000)	(6,000,000)	95,000,000	270,000,000	620,000,000
Diluted shs o/s	55,962,311	55,962,311	55,962,311	55,962,311	55,962,311
Sh value	($0.84)	($0.11)	$1.70	$4.82	$11.08