EFUT - well, if you want the ultimate bottom line - that works too:
The Company converted US$5 million notes in 2007 and US$4 million notes in 2008, representing a total conversion of 90%. The expenses related to converting the remaining 10% will be US$0.9 million.
Ok, so lets assume worse case they convert rest this year and total of $1.2 million for the notes/interest etc etc - that means gaap net would be $3.7m to $4.7m - or eps $1.41 to $1.79 - that is still forward PE of 6-8 - yet, now, since you want to compare net to net, you are looking at what?? from -$1.43 to maybe $1.75?? That's huge! PE 10 is certainly reasonable, more like 15 - fair price $20-30
Personally, I don't care about that - when I look at growth, I look at growth through operations - it looks like at least 100% earnings growth, 35%+ revenue growth - find me something like that in todays market!
First time in a long time EFUT has looked attractive to me.
