E-pay asia is showing tremendous growth and is profitable. The shares have fallen back and I feel this company has been overlooked, I intend to keep adding to tuck away. Anyone else in??

For what it's worth, I have had a go at calculating likely earnings per share for the current year, based on the revenue figure given above. I included adjustments for increased borrowings, depreciation of increased assets, etc, and taxed the whole lot at 30% of profits, before dividing the Aussie dollar figure by 2.40 to get British .

It seems to me that the company could be on course for EPS of 1.88p, compared with 1.27p for last year. This is a 50% uplift, and at the current SP of 16.5p offer, puts the co on a forward PE of 8.8. (Current PE is 13). Using the current PE, that's a PEG of 0.26.

Plesae don't take this as gospel - it's just a fag-packet calculation, but gives me reasonable hope that this stock could be due a re-rating.

You are working hard across the board ST, and it is much appreciated.

Trouble is, I've always had trouble trying to buy EPY - only being offered such pitiful amounts it seemed hardly worth it.

Cheers, Madison

Thanks, Madison. I just hope I'm right about this one, largely because I paid a lot for my stock yesterday (trading on margin) and am very keen to see it come right.

Still, a supposed 266% increase in Q1 turnover has to be good for something!

I don't know how you define a pitiful amount, but good luck in any case!

ST.

In the interest of clarity, I have just found the following in the FY results which indicates a dilution of the shares that I had previously overlooked:

In addition, under the terms of the acquisition of the e-pay group of companies
by SkyNetGlobal, Tobikiri Capital Limited, whose ultimate beneficial owner is
Simon Loh is due deferred consideration of an additional 72,500,000 shares in
the Company to be issued at a price of A$0.20 per share for no consideration. It
is expected that these shares will be issued on 16th April 2007 and application
will be made for these shares to be admitted to trading on AIM and the ASX on
16th April 2007. As a result of this share issue, Tobikiri Capital Limited is to
hold 151,785,830 ordinary shares in the Company which representing about 54.6%
of the enlarged share capital of 277,799,952 ordinary shares in issue. These
deferred consideration shares do not qualify for the dividend payable for the
year ended 31st December 2006.

EDIT: The new figures I posted a couple of days ago take account of the increased number of shares in issue.

(Previous text deleted as it was based upon an incorrecct assumption!)

Actually, does anybody have access to the dark side (I used to but this computer won't let me!)? Might be interesting to see whether anyone has posted any well-supported estimates over there.

Post 61 edited.

Oops! putting my shirt on this one to go up was clearly a mistake: EPY Bid: 13.5p Offer: 14.5p Change: -1.25 .


however, at some point it must be due a serious bounce, but I am not content to hold on until it occurs, so have bravely (?!) eaten my losses and movd on.