| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| MVY | CLDV | DEAL | GMNG | EGLX | | CYPX.F | |
| TSXV:MVY | CNSX:CLDV | TSXV:DEAL | CNSX:GMNG | TSX:EGLX | | OTCPK:CYPX.F | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 8.9% | NM- | 68.9% | NM- | 42.8% | | 11.2% | |
| 3Y CAGR | -2.4% | NM- | NM- | NM- | -24.3% | | -1.5% | |
| Latest Twelve Months | -39.4% | 79.9% | -37.0% | -24.1% | -59.3% | | -0.7% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | -124.9% | -2054.2% | -45851.5% | -760.8% | -32.8% | | -31.4% | |
| Prior Fiscal Year | -128.0% | -1790.4% | -1709.0% | -277.8% | -19.7% | | -57.1% | |
| Latest Fiscal Year | -95.8% | -2541.5% | -1049.3% | -135.1% | -8.2% | | -24.0% | |
| Latest Twelve Months | -210.7% | -841.1% | -1680.5% | -54.1% | -8.2% | | -17.1% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 5.37x | 6.43x | 35.31x | 3.65x | 0.67x | | 7.35x | |
| EV / LTM EBIT | -2.5x | -0.8x | -2.1x | -6.7x | -8.2x | | -42.8x | |
| Price / LTM Sales | 2.41x | 8.40x | 7.76x | 2.65x | 0.19x | | 7.25x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.67x | 5.37x | 35.31x | | | | | |
| Historical EV / LTM Revenue | 5.75x | 6.40x | 9.69x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 6.23x | 6.56x | 6.88x | | | | | |
| (x) LTM Revenue | 10 | 10 | 10 | | | | | |
| (=) Implied Enterprise Value | 60 | 64 | 67 | | | | | |
| (-) Non-shareholder Claims * | (1) | (1) | (1) | | | | | |
| (=) Equity Value | 59 | 63 | 66 | | | | | |
| (/) Shares Outstanding | 61.9 | 61.9 | 61.9 | | | | | |
| Implied Value Range | 0.96 | 1.01 | 1.06 | | | | | |
| FX Rate: CAD/USD | 1.4 | 1.4 | 1.4 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 0.67 | 0.71 | 0.74 | | 0.76 | | | |
| Upside / (Downside) | -11.4% | -6.7% | -2.0% | | | | | |