ebitda emphasis is sort changing the co.ebitda does not give co. credit for low interest rate and low tax rate so market is mis-valuing the stock.
Current adj ebitda $10.85 mil
Annualized = $43.4 mil
EV/ ebitda multiple of 6 => $260.4 mil
Less net debt of $136.5 mil => equity of $124 mil
117 mil shs. => $1.06
Current adj. eps = $0.062
Annualized = $0.248
p/e multiple of 8 => $1.98
| net loss | | -6,317,410 |
| fx losses (gains) | 3,748,357 |
| amort of intangibles | 8,941,592 |
| legal settlement | 998,176 |
| acquisition costs | 0 |
| derivative losses (gains) | -77,410 |
| adj net income | 7,293,305 |
| shs avg o/s | 116,999,906 |
| adj eps | | $0.062 |