Originally Posted by
simla
So the upper limit of your profit forecast for the full year is "less than $20m", Emearg! At a PE of 15, $2.20 would be reached with a profit of about $20m on the existing 138m shares.
In my printed copy of the Notice of Special Meeting for 8 November 2007 about the rights issue (I can't find a copy on the internet), it says on page 16, under "Future Direction of the Company", "to achieve an annual turnover of more than $25m within the next 5 to 10 years." Well, nobody could possibly hold them to such a vague objective, of course, but it does illustrate that the company thinks big numbers are possible. They just turned out a half year revenue of $1m, but there isn't any suggestion of slowing down, rather of just beginning