RE:NRMgmt should have balanced the NR which is all about financing details with a reiteration of their guidance for the combined entity of 2016 ebitda of $25 million to $30 million. Then readers would not just focus on the dilution, but also the value creation.
p.s. 10.7 million warrants and 900,000 options have expired since June 30 financials
ebitda = 30 million
12% int on old and new debt = 8.04 million
30% tax = 6.59 million
net income = 15.37 million
eps = $0.087 ( 177 million shares)
P/E multiple of 15x => $1.30 share price
diluted eps =$0.058 (265.7 million shs)
P/E multiple of 15x => $0.87
cash/sh from wt/opt exercises = $0.14
share price = $1.01
ebitda = 25 million
12% int on old and new debt = 8.04 million
30% tax = 5.09 million
net income = 11.87 million
eps = $0.067 ( 177 million shares)
P/E multiple of 15x => $1.00 share price
diluted eps =$0.045 (265.7 million shs)
P/E multiple of 15x => $0.67
cash/sh from wt/opt exercises = $0.14
share price = $0.81