Tangelo Games Corp. IPRSF

some valuation calcs

[lscfa]

Forward ebitda = $15 mil    
Ev/ebitda multiple = 10x    
Debt o/s = $83 mil    
Cash o/s = $5 mil     
Shs o/s = 180 mil     
 
Sh worth = (15 x 10 + 5 – 83 ) / 180 = $0.40 /sh     
 
 
Current debt = $14 mil US     
Fx rate = 1.34     
Current debt = $19 mil    
Shares for debt rate = $0.10    
New shs =  19 / 0.10 =  190 mil     
Total shs = 370 mil     
 
Sh worth = (15 x 10 + 5 – 83 +19 ) / 370 = $0.25 /sh