Looks like you've used the $110m figure put out by AGS months ago & so-beloved by one particular poster who quotes it over & over & over again.
You're using those numbers in a way they were never meant to be used. In my opinion, they were put out just to show the market that AGS was under-valued & to try to stop a panic sell-off. It obviously didn't work. The assumptions in that $110m scenario will NOT play out.
No offense, but your valuation is a good example of GIGO. https://en.wikipedia.org/wiki/Garbage_in,_garbage_out
I use that term NOT as a perjorative (or as a bait or in indignation), but simply to point out that you can't take demonstrably wrong inputs, wrap them in some algorithm & then expect that output to be useful.
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