RXSF - Looking forward only thing that matters.
Current PPS: $0.89
Shares Outstanding: 11.8 million
Shares Floating: 516,000
Market Cap: $10.5 million
Recent Filing News:
Top Wall Street Banker Weelington Shields backing RXSF for $56 million, company was looking for $25 million in funding.
Phase 1 (June time-frame):
$1,000,000 in short-term non-dilutable/non-toxic bridge money that will be used to pay off all of the variable convertible debt and provide several months of working capital until we are able to complete the next step of our plan.
Phase 2 (July to September time-frame):
Recapitalizing and restructuring Rx Safes through the acquisition of one or more revenue generating, positive EBITDA companies that compliment, expand or improve our product offerings. Our banker recognizes the value of this approach and, as such, has provided us with a facility of up to $15,000,000 acquisition capital to allow the Company to meet its goal to realize accelerated growth through acquisition.
Phase 3 (October to December time-frame):
Signed an agreement with our new banker for up to $40,000,000 through an underwritten Confidentially Marketed Public Offering (CMPO) with a simultaneous up-listing to NASDAQ.
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Valuating RXSF short term:
Company based upon projections of $95 million in sales, $43 million in EBITDA as three year figures with financing. EBITDA is 45% of sales so let's take Net Income to 25% of sales.
Using an inflated 15 million shares outstanding and an industry PE of 32 (I think RXSF will command a PE over 50) let's look at some figures.
$10 million sales, $4.5 million EBITDA, $2.5 million Net Income, $0.17 EPS x 32 = $5.33 PPS
$25 million sales, $11.3 million EBITDA, $6.3 million Net Income, $0.42 EPS x 32 = $13.33 PPS
I am using a much higher share structure, a possible lower Net Income margin and a lower PE and this should still be valued at $5-$13 with ONLY $5 to $10 million in sales.
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