RE: 2nd QuarterAF trading around $4.25 has a market Cap of $50million.
With yearly cash flow of $6million, and a CF multiple of 14, AF should be trading at $7.00
With 60,000 subscribers, and a value of $2,000 per subscriber, AF should be trading at $10.00
AF has been basically flat for the last 6 months, so that should eliminate the downside risk.
All in all, a STRONG buy I would say. AF is my top non-resource pick at the moment.
O.