Bob you are dreaming "The share price figures should be conservative when you consider that I allowed for all options to be exercised in calculating number of shares on issue & the P/E of 30 I used could be a lot higher in the early stages."
Your share price figures are fanciful and irresponsible. The only way you get earnings anywhere near your figures if you serve the whole market and have no growth - if that's the case no one is paying 30x because there is no growth.
What is realistic? A much more gradual roll out a fraction of what you laid out. Earnings much lower but that's ok because earnings are maintainable as other airlines catch-up and roll-out spreads. In that instance 30x is full (30x needs above market growth) but maybe close but earnings are a fraction of your crazy figures.
Again, I'm a significant holder, I want this to work but the numbers you throw out are flawed and just destroy credibility.
SMN Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held
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