Valuation, page-4

The consumer appeal and sales take up potential has been tested positively in Australia and now the US (where the brand is less well known). So the business risk is limited and it comes down to the pace of production ramp up, price and margin. The firm is one announcement away from sales that put the firm past break even and into positive cash flow. If you do the calcs on no of stores, sales per store per day and earnings and a PE of say 10 you get way past the market cap. The market will want to see hard numbers before it fully rates the earnings. Hopefully, this will happen progressively throughout the year.