I can't agree with your analysis, the SP could possibly be a tad higher but $1 itcertainly shouldn't be on current figures IMO, this is probably one of the biggest misconceptions of all associated with this stock, we simply don't have the financials to back up valuations this high regardless of whether management have overstepped the mark or not (and it's evident that they have), running on current figures the SP isn't that far out of whack, I personally believe perhaps 10 cents or so undervalued at this time, we need a continuation of good financial reports showing growth in revenue and margins and hopefully a reduction in costs to legitimately support a higher SP.
We all continually see people compared other totally different companies to Alexium and try and justify a higher SP, but the fact is we could be like 1PG or any amount of other companies that couldn't justify a higher SP, we too often blame many other factors on why the SP isn't higher and I personally feel many of these reasons are way over baked, yes management have had plenty of stuff ups but IMO they are now doing a great job in trying to rectify their errors ( in saying that there's probably been few other investors that have had the amount of email arguments with management that I have over the last few years).
The simple fact is most investors have had an unrealistically high SP in comparison to what our financials would currently agree with, I've mentioned before that if we were to build a SP around potential then we could be sitting at a much loftier SP figure, however with timing errors on managements behalf and many many world events that have effected the market over the last couple of years (China,Greece, Brexit, US Election), I'm still happy to be able to reflect on business performance over the same period and conclude that we're kicking goals where it counts, the SP might not be where it could be (on potential), but it is where it is built on sales and ever increasing revenue, the only reason for it to now go backwards is if the actual business starts to implode and all the evidence we've seen contradicts that at this time.
The last thing I'd like to say is on margins, this is addressed nearly daily by several intelligent and respected posters, we need to understand that only a very few short quarters ago we were making virtually no revenue at all, the massive business changes that have occurred during the first few quarters of our commercialisation are without precedent in our company, the ever changing costs due to a million different evolving scenarios are what make up our margins on a continually evolving platform, if management were to give precise costing of what's going on today then they would be out of date in a weeks time, as we've been told, things like shipping, bulk tote orders, upscaling in orders, more trial customers being converted into revenue paying customers and any other hundreds of variables change these calculations on a weekly basis, my view is to give another quarter or two and let these metrics start to show some sort of consistency before we try and pin management down on specifics, they've made generalisations on margin targets that now will have to be accomplished or they run the risk of further embarrassment, common sense should tell us to let the metrics form some sort of consistent regularity before trying to announcing definitive margins, I'm not for an instance saying margins aren't important, but we're literally 3 quarters into making revenue that's gone from jack s#*t to a possible $10 mill per quarter, things are changing quickly and we need to let that happen and await the results in the financials without smashing management on their growth versus margins scenario, again margins are important, but so is unhindered growth as long as it has light at the end of the tunnel!
Cheers.
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