TS03 Inc Trust Units TSTIF

RE:RE:RE:LinkedIn Due Diligence

[WickedTuna1]

Thks Teekae, always enjoy reading your work very thoughttful.  i agree that makes sense on the takeout multiple side.... i would correct you if i may however on the sales multiple analysis... sales and ebitda are exactly what you value growth co's like amzn and tsla on... i think you meant to say earnings don't matter... thats why no one cared for years about amzn earnings... its all about sales growth% and sales margins and thus a sales multiple is fine anytime for a growth company in a quick/dirty analysi.  again just my opinion.  

I think sales is everything thats why we need a bigger global distro  partner as you suggest we can't do it all our selves - that was impetus for the original deal w/ G.  Anyway take a look at Cantel's acquisitions over the last decade (i've seen the co's listed on their website) they're all between 20-50mn in sales at 3-5 times sales.... until we breach $20mn or so we just don't move the needle enough for acquisitions although we all know the potential.  That's also why institutions are not going to re-visit our thesis until we get sales visibility again... but once we do (that's by signing a new distro deal)... then viola! i think we're off to the races... anyway that's for chiming in agree with most of your rationale.  thks!