Bankruptcy Filing Notes part 2:
Finally, the financial projections (broken down by month) included in the statement filed with the bankruptcy court [see exhibit C to Disclosure statement]:
2009:
Sales - $5,592,000
Profit - $1,073,628
(they had sales projected to occur as early as May, which I’d love to know whether or not that actually occurred to plan so far in 2009)
Valuation Ranges
10x = $10,736,280 ( about $0.85 share price )
20x = $21,472,560 ( about $1.79 share price )
25x = $26,840,700 ( about $2.23 share price )
2010:
Sales - $13,680,000
Profit - $2,744,974
Valuation Ranges
10x = $27,449,740 ( about $2.28 share price )
20x = $54,899,480 ( about $4.57 share price )
25x = $68,624,350 ( about $5.72 share price )
2011:
Sales - $34,416,000
Profit - $16,988,762
Valuation Ranges
10x = $169,887,620 ( about $14.15 share price )
20x = $339,775,240 ( about $28.31 share price )
25x = $424,719,050 ( about $35.39 share price )
So the upside possibility is their, but with the gigantic caveat that acceptance of their software must take hold for anything approaching these optimistic projections to occur. Anyone have thoughts on this or anything else to add? Please feel free to respond.
For your convenience I have posted the Disclosure statement and exhibits to SCRIBD (just search for RSRN)
