ould hope you agree that=the following is a commonly agreed upon formula for value: a. =nbsp; Enterprise valu= = EBITDA x Market Multiple b. =nbsp; Equity Value ==Enterprise Value + net cash (or — net debt). 2 EFTA_R1_01333711 EFTA02353337 One matter of judgment is w=at of the cash balance is "excess cas

ould hope you agree that=the following is a commonly agreed upon formula for value: a. =nbsp; Enterprise valu= = EBITDA x Market Multiple b. =nbsp; Equity Value ==Enterprise Value + net cash (or — net debt). One matter of judgment is w=at of the cash balance is "excess cash". Joel has sai= he believes all th