Canwe Growers Valuation | ||
Canwe Growers Facility SQ-FT |
50,000 |
|
EV / SQ-FT |
$ |
1,409 |
Canwe Growers EV |
$ |
70,450,000 |
Alliance ' s Stake (%) |
5 % |
|
Alliance ' s Stake Value |
$ |
3,522,500 |
Private Investment Discount |
35 % |
|
Alliance ' s Adjusted Stake Value |
$ |
2,609,259 |
Outstanding Payments |
$ |
200,000 |
Shares ( dil .) |
66,826,906 |
|
Fair Value Per Share Impact |
$ |
0.04 |
Source : FRC |
EBIT ( 1-tax ) |
$ |
-714,680
$
|
1,929,521
$
|
5,892,285
$
|
9,002,705
$
|
13,297,804
$
|
12,663,581
$
|
15,111,976
$
|
17,560,847
$
|
19,189,654 |
|
Depreciation |
$ |
- |
$ |
174,000
$
|
729,450
$
|
1,219,793
$
|
1,175,799
$
|
1,194,206
$
|
1,211,911
$
|
1,228,973
$
|
1,245,447 |
Investment in WC |
$ |
-72,925
$
|
-1,099,808
$
|
-2,257,875
$
|
-1,856,250
$
|
-1,785,000
$
|
-148,750
$
|
-981,750
$
|
-981,750
$
|
-654,500 |
|
CFO |
$ |
-787,605
$
|
1,003,713
$
|
4,363,860
$
|
8,366,247
$
|
12,688,604
$
|
13,709,036
$
|
15,342,137
$
|
17,808,070
$
|
19,780,602 |
CAPEX |
$ |
-3,480,000
$
|
-11,283,000
$
|
-10,536,300
$
|
-339,930
$
|
-1,543,923
$
|
-1,548,315
$
|
-1,553,147
$
|
-1,558,462
$
|
-1,564,308 |
|
FCF |
$ |
-4,267,605
$
|
-10,279,287
$
|
-6,172,440
$
|
8,026,317
$
|
11,144,681
$
|
12,160,721
$
|
13,788,990
$
|
16,249,609
$
|
18,216,294
$
|
18,762,783 |
PV |
$ |
-3,754,435
$
|
-7,863,673
$
|
-4,106,024
$
|
4,642,834
$
|
5,605,787
$
|
5,319,005
$
|
5,244,520
$
|
5,374,256
$
|
5,238,870
$
|
44,966,967 |
Discount Rate |
15 % |
Terminal Growth Rate |
3 % |
Total PV |
$ |
60,668,106 |
Cash - Debt + Canwe Value |
$ |
2,718,236 |
Equity Value |
$ |
63,386,343 |
Shares O / S ( dil ) |
72,002,330 |
|
Fair Value |
$ |
0.88 |
130