RE: back of the enevelope calc... earlier, and point of fact the reason i started posting here was to expose the misleading posting of posters, rainyday being the 1st one who i chose to expose:
so earlier i crushed rainyday over his phoney attempt to make a forward estimate of summin but failing to include the upcoming 15% dilution... very misleading rainyday, very misleading
EBITDA calculations while somewhat useful in some industries (i would say bunch of tech companies that have little or no debt and hence little or no interest expense) are not useful in other industries or specific situations
now i go to the core of the misleading posting; rainyday wants to assume away Interest Expense and Depreciation expense for WND. now i won't deal with Deprecriation, but the exclusion of Interest Expense is exceptionally misleading for this simple reason:
a) on WND's project "operational costs" should be very low; this ain't Mickey D's, so there should be a healthy margin (the business is IMO in fact fairly simple: fixed price long term contracts, government incentives and debt)
b) but... and this is the BIG BUT and goes to the very core of fraud posting, it seems Interest Expense is by far the largest Expense for WND, i believe in the CC $1.8M/month Interest Expense for Windstar alone was mentioned (I could be wrong but this is what I remember); that could in fact by itself equal 50% of WND expenses
now why would a poster rainyday, who makes outrageous claims of being a (mis)numbers guy fail to consider the single largest expense item for WND????
oh rainyday you got some splaining to do.
all the above my opinion only