New Energy Systems Group (fka NEWN)

[GorillaGorilla]

Ok, I've tweeked my spreadsheet...

The major disparity is that you are using basic number of shares, 5,446,062, and I'm using diluted 6,203,637. Don't know what the conditions for dilution

$5.3 million with diluted shares gives $0.86.
$6.0 million with diluted shares gives $0.97.

I had some numbers for $25 million revenues but as you've noticed I've been using the lower figures. I've updated the spreadsheet for the higher number.

Obviously, valuation is awkward to gauge until Q3 comes in since they are predicting lower earnings than last year.

rich