[tasubotadas]

Since it's a service based company EBITDAx3 would be a fair deal.

What's the current EBITDA?

[kasey_junk]

It’s a grant based organization as well which drives down its value.

Without seeing the books it’s hard to say but from this description there doesn’t appear to be any equity in the company at all.

[mnky9800n]

What is that logic based on? I’m simply naive and don’t know.

[tasubotadas]

No logic. Just a precedent. You can Google around for any similar cases like yours.

Any calculations that use stuff like DCF are basically nonsense that ends up being negotions about the multipliers.