$55 Million in revenue will require working capital investment in debtors and stock at the various least and presumably these chemicals are not conjured by a magician so production facilities for chemicals will be required to support $55M in revenue!. The above figure is my guess. It could be higher it could be lower but the point is a much larger capital base than $2M net tangible assets will be required to support the figures in the analyst report. Hence the EPS figures stated in the report are bordering on being criminal!