Seven Aces Limited - Ordinary Shares ACEXF

Q3 results

[lscfa]

The bozos didn't explain that the 5 acquistions in the quarter didn't contribute a full quarter's worth of revenue and cash flow. Also one time acquistion costs were $938,702.

https://www.accesswire.com/568415/Seven-Aces-Limited-Announces-Financial-Results-for-the-Third-Quarter-Ended-September-30-2019
 

 

$US	3 mo Jun 19	3 mo Jun 19	3 mo Mar 19	3 mo Nov 18	3 mo Aug 18	3 mo May 18
CFO	3,181,383	5,901,224	5,913,416	3,957,676	5,149,866	3,983,208
Less minority int	(932,437)	(2,458,855)	(1,431,039)	(1,438,020)	(2,114,741)	(2,417,087)
Net	2,248,946	3,442,369	4,482,377	2,519,656	3,035,125	1,566,121
Acquistion costs	938,702	134,778	110,740	927,688	355,898	(156,420)
Adj. net	3,187,648	3,577,147	4,593,117	3,447,344	3,391,023	1,409,701
ebitda	6,406,980	7,674,835	8,297,986	614,984	6,950,402	7,051,018
Less minority int	(932,437)	(2,458,855)	(1,431,039)	(1,438,020)	(2,114,741)	(2,417,087)
Aces ebitda	5,474,543	5,215,980	6,866,947	(823,036)	4,835,661	4,633,931

 

 

Qrtly Ebitda	5,000,000	5,000,000	6,000,000	6,000,000
4 x ebitda	20,000,000	20,000,000	24,000,000	24,000,000
Multiple	7	10	7	10
Ent.  Value	140,000,000	200,000,000	168,000,000	240,000,000
Debt	-57,958,025	-57,958,025	-57,958,025	-57,958,025
Cash	5,529,308	5,529,308	5,529,308	5,529,308
Equity value Us	87,571,283	147,571,283	115,571,283	187,571,283
Cdn	116,469,806.39	196,269,806.39	153,709,806.39	249,469,806.39
Diluted Shs	83,924,974	83,924,974	83,924,974	83,924,974
Per sh	$1.388	$2.339	$1.832	$2.973
Qrtly cash flow	3,000,000	3,000,000	4,000,000	4,000,000
4 x cf	12,000,000	12,000,000	16,000,000	16,000,000
Diluted Shs	83,924,974	83,924,974	83,924,974	83,924,974
Cfps USD	$0.143	$0.143	$0.191	$0.191
Cfps cdn	$0.190	$0.190	$0.254	$0.254
Multiple	7	10	7	10
Sh value	$1.33	$1.90	$1.77	$2.54