NightCulture Inc (fka NGHTD)

[General_Sevier]

It would take over $900,000 in NET income to generate $0.01 fully diluted EPS. And you would exclude all non-operating non-cash items such as derivative GAAP adjustments and antics with debt to equity........

And that $900,000 would mean $1.4 million before taxes.....

Q1 was an operating loss of $197,000 and $88,000 interest expense.

That means almost a $300,000 loss. They will be lucky to produce one half of one cent in fully diluted EPS from operations in 2014.

At a 10 multiple, that values them at 5 cents.

And that is if they don't have to issue more dilutive debt in 2014.