ASC 6.67% 1.6¢ limited

good financial results asc looking cheap

  1. 2,329 Posts.
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    Good results for the last month, net cash increase by 346,000 currently $12.46 million in the bank

    I have done some quick calculations on the numbers.

    At the halfway point in the year they had a net tangible asset backing of 5.95 cents per share, based on having other assets + 9.58 million in cash.

    Cash alone has increased by + 2.87 Million in the last six months.

    Now I know there will be depreciation and amortisation on assets to take into account, however equally some of the usage of cash has been to acquire assets, so if assets essential end up being about the same with an increase of cash the the net tangible asset backing of Adultshop is got to be 6.95 cents per share plus.

    Shares trading at less than 5.5 cents with a TANGIBLE net asset backing of 6.95c + if my calculations are correct.

    Sooner or later the fear of the companies poor decision will give way to pure financial logic that says this company is way too cheap.

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