Ann: Change of Directors' Interests (App 3Y), page-13

Correct BET $1.20 my base case short term 6 - 12mths.
Everyone entitled to their opinion. There is plenty of variables you can go further into discussing.

Calculations
I'm using 700M shares
$500M current mkt cap around 70cents
(We seem to be avg $450m - $550M range)
Current ARR $16M
31X revenue

I'm predicting international revenue to make up 75% of total revenue and domestic mkt to be 25% in the next year. They've already hinted it's about 70% / 30% with the Sportech acquisition. You can go into detail with the supreme ventures deal, fixed odds etc but as I said plenty of variables.

Case 1
$16M rev + $48M international = $64M Total ARR
31X revenue
$1.984B mkt cap
Stock price $2.83

(20X revenue - more reasonable as share price could currently have some future growth baked in)
$1.280 mkt cap
Stock price $1.82

Case 2
Slight uptick in domestic to $5M quarterly
international to $15M
total $80M ARR
31X rev
=$2.480B mkt cap
Share price $3.54
20X rev
=$1.6B mkt cap
share price $2.28

Case 3 my base case
international revenue $40M
Australia $16M
no growth
pulling back to 15X revenue
$800M mkt cap
stock price $1.20

If you think differently that's fine no issue I've been pretty bullish on this stock for the last year not everyone will think the same as me I'm well aware. I've at least given some quick calcs behind my reasoning. They also need to execute on their plan for these predictions to work out.