National One., page-2

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    45 is the escrowe level so this should compress the price for the time being below this---it was an estimate that for a patient investor to buy in the low 30's that subject to speculative risk (ie the directors coming through with a better second half) and other risk factors that pertain to the financial markets, that a person would be rewared through time, in terms of capital gain when the entity next reports, option details have previously been posted. (ie eps is quite low--so the directors have to get it right in their forecasting--so researching this one is extremely important)
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