Ann: October Operational Update, page-135

Froggy, if I can she light on your question "How the F** is it still at 0.02", I think at least part of the answer is the 2.5bn shares on issue.

Let's for a moment recalibrate and say there are 25m shares on issue at a price of $2.00 each.

To justify this price at a p/e ratio of (say) 20 for a growing company, you would need to see profits of 10c/share, i.e. a net profit after tax of $2.5m. My financial model does not show this happening until FY20.

So if you think the right 2yr forward p/e for this company is 20 then the current sp is about right.

I do see the NPAT more than doubling in FY21 though, which brings the 3yr p/e down to 10.

But of course between now and June 2021 there are plenty of things that can go wrong.

I am in for the long haul and will be looking each quarter to verify/adjust my model based on actuals reported by the company.

DYOR of course. And hopefully my model is wrong and, as olderwiser predicts, LPE is cashflow positive as early as next quarter.