The current 28p share price values the business at £16m, of which £5m is represented by the legacy stake in Lansdowne Oil & Gas. So that leaves us £11m for R2S, assuming the Consulting and Marine divisions are worth zero (being the unproven divisions). R2S produced EBITDA of £2.8m during the 12 months to February 2014. Subtract approx £251,000 depreciation and amortisation cost, and then tax at the standard 20% rate, I get earnings of £2m. On that basis, R2S on its own seems to be valued at 5.5 times earnings (i.e. £11m divided by £2m). Given the Strong outlook for the start of 2015, this looks an underappreciated and undervalued stock, and is still at a bargin price.
Thanks Mayfair; you are a mine of info; obviously you really research the company; I am now an Investors Chronicle convert and what Simon Thompson says goes. ! I shall scrape up some money to but some more before the updates. Whoever makes small tough cameras must be minting it too; they are in use everywhere , mainly for security but also for maintenance.
Church Roof you say! Well SeaEnergy are into this from an aerial perspective. They have recently signed a joint marketing agreement with Cyberhawk, the leading remote aerial inspection and surveying company. They are providing Cyberhawk's aerially-captured images within the R2S VAM Models.
Would not surprise me to see SEA upping the stake on Cyberhawk http://www.thecyberhawk.com as to me it appears a complimentary fit. Still one thing at a time - SEA profit announcement first - roll on April 14 (year end results)
So all sorts of applications....we could do with something similar on our church roof; just had all the lead lifted. Very interesting possibilities; hope the prices are competitive. Thanks Mayfair. I have just bought some more SEA today from the scraps remaining after COMS had a board room melt down.
Of course SEA's R2S is still in the forensic sector and will be presenting the R2S Forensic V3 and User Group Launch, in Glasgow, 26-27 March 2015. A little about the set up on the attached link: http://www.r2scrime.com/index.asp
When R2S started out in the forensic sector it could only be used with one particular type of camera which was restrictive as it tied them to one camera vendor. SEA have worked on software upgrades which now allows for additional cameras to be used allowing R2S more flexibility. A variety of cameras now produce high quality 360˚ spherical images which create a walk-through environment and allows a quick assessment of an area or equipment.
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