THERATASE 2002 - CHAT THREAD."potential is massive","to double or treble" !!

Interested in yr comment. i believe the broker for Theratase has a profit forcast of around 2.8M pretax pre tading statement. the directors tell us that with the loss of the korean contract (which I believe cannot account for more than 5% of turnover )that their profit will be signicantly lower. My guess is say 15% before any increased sales from their other Korean Contact. This suggests profit of around 2.3M. A purchaser would be able to strip out 250K costs from the listing and a further £300 re directors salaries suggesting the business is easliy capable of contributing north of £3M to any acquirer. This assumes no value or contribution from AM Pharma. it is hard thererfore to see this business being sold at less than £30M market cap or around 85p. I certainly would not be keen to support a bid below this level despite the slightly accident prone management. The acquirer must be thrilled at this announcement as it has knocked 20p of the share price and made their task even easier.