Monday, October 16, 2006 12:17:14 PM
According to the company's website, they're generating $7 million in annual revenue and expect to realize about 15 pecent net income from that.
With 140 million shares outstanding that means a net income of .0075 per share. Which puts FGFC at a a forward-looking PE of 2 here. A PE of five would bring it to .035 per share. A 10 PE = 7 cents.
But another big positive is they promise to "retire a large block of shares" and move this to the OTCBB.
Say they retire 20 million shares, that'd increase the EPS to .009 and put it closer to a PE of 1 at this level!
I'd say your odds of getting a three- or four-bagger here soon are very good.
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