Google and global warming, page-23

Hi Ed.
In my opinion the SP is still driven by speculation on the companies prospects rather than by any reference to the PE. That will come later as the company becomes more established.
Given the enormous prospects in China alone a fact endorsed by the MD’s recent comments that it is virtually impossible to give sales projections because of that enormity I think the SP has a long way to run simplybased on these prospects
As sales in China (mainly) and elsewhere are announced we will continue to see good spikes in the SP in the short term. Who knows what this years sales might be. Again imo the already projected $40m in sales is more likely to be conservative than not, thus I believe that we could well see the SP push up to $1 even if some sales are not completed this financial year.
Like you Ed I believe the recent cap raise was more because of the need for cash because of the terms of payment in China. However I am a bit more bullish about the future which I think justifiably could be described as a little more than bright.
I accept the prudence to lock in some profits when appropriate but genuinely believe there are a lot more fireworks to come and in the short term particularly in China! I note you refer to Newing and his reports. I am reminded that on his sales projections he comes up with a target price well in excess of current levels so I think I will review my position towards the end of this FY.