Purplekush wrote: 10x multiples from what I can gather plus substantial earnouts. I want to be a Passport shareholder.
Ausa is projecting Cocoon to do in excess of $13m in rev next year. So we actually dont need to dilute our shares and burn all our reserve.
Next year we'll have 13m in rev, still have over 30m in cash and zero dilution.
If cocoon doesnt make 13m in rev then we know they are full of it.
One more reason why we dont need Passport is, Cocoon's projected rev is 3 times as much as Passport.
The valuation of Passport is way too high when they are suffering massive losses the past few months from the shutdowns of all casinos in Canada, US and the UK.
Passport is a distressed company and is looking for a bailout.
One more thing, once the deal takes place, Ausa incurs ALL OF THE WAGES AND SALARIES OF PASSPORT.
Their wage expense went from 4m to 10m in 2021.
Don't talk to me about "potential" or "vision". I want to see numbers and results.
Franklinsing wrote: I'm glad someone on here is actually looking at numbers and thinking about this objectively. The deal may be good for Australis investors depending on how much Passport actually does in earnings. If it's actually a good deal like 5x EBITA or less It may make sense but no actually numbers given is a red flag.