Ann: Dotz Signs PPE Authentication Agreement in USA and Canada, page-53

You have about $4m from the previous orders (hk and australia and turkey) of which cash already started to be paid and orders fulfilled. Then you have this Canada announcement with min $17m and max $33 (I converted to Aud )

so in total roundly $37m

now I derisk those since not everything firm and there are break fees for the contacts etc by 70% to be very conservative. Company still looking at $11-12m revenue at 60-70% profit margin (I think Dotz actually higher) we are at 7-8m profit. Put 20x multiple and this is worth 140-160m valuation. Or 45c a share. We are not there yet and only on the back of these agreements which are just the beginning really