With the stock at $.12, per share, you get:


1. A $4.5 million market cap. company.


2. With ~$1 million cash, and an unused $500,000 deby facility. This debt facility could likely be significantly upgraded now given the 36% growth in the company since it was issued.


3. ~$2 million in EBITDA over the next year given the EBITDA last quarter. This assumes minimal growth.


4. A world class company that generated 36% growth last year; including growth in all products. This was record growth, on record revenues, and it produced record earnings. The majority of growth came from two new products; one internally developed, and one through acquisition. Growth is expected to continue given the deals to supply Embraer, Bombardier, and Airbus announced in October. The deal to supply the Bombardier jet will result in a new more compact model extending the company's product line.


5. Given the cash on hand, the unused debt facility, and the potential $2 million in EBITDA over the next year; as well as the success with the last acquisition, this company is set for its next acquisition. This should further diversify its revenue streams. This increased diversification should increase what the market is willing to pay for earnings. Given the higher market cap of this company liquidity in the stock should also increase supporting a higher stock price over the next year.


6.  In its MD&A, IWG says,

"While an entry into the commercial aircraft market is expected to take some time, the Company continues to discuss application of its products with some airlines and OEMs." This could be huge.

7. The stock is only trading at .75 times last year's revenues, and .69 times annualized last half financials. It is trading at approximately 5 times last year's EBITDA, and about 2.6 times annualized last quarter's EBITDA. Again, growth is expected to continue this fiscal year given the trends, and October contract announcements. 4 times annualized last quarter's EBITDA would mean an $.18 stock currently.


Again, the company expects continued growth, is positioned for another acquisition further diversifying its revenue streams, and there is the longer term potential of commercial airlines.


Here is an analyst report with a $.30 price target from last year after the acquisition of Keltech. IWG significantly beat the analyst's estimates suggesting an the stock should be even higher than $.30 now.