It'll be interesting to see how the market treats the news in regular trading tomorrow (eer later today). I tend to think Management will not seek a buyer but perhaps Joffe will surprise me or at least give it lip service and say we are open to it.
I put fair value over 10 easy. I like the EBITDA multiple approach or using a multiple of sales. Using EBITDA of say 20 million annually and even using say a 6-7 multiple that is closer to $12 a share. At that price Joffe would have a nice nest egg on his shares too so maybe he would be open to cashing out sooner.
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