Ann: Appendix 3B, page-9

its never the number of shares by itself thats a concern - its the no of shares vs the earnings/value attached

but fair to say stock's on a price/sales ratio of 39x at 29c sp - which is historically quite pricey

but those sales are based on guaranteed minimum contracts company has announced.

optimists will say that significantly undervalues above guaranteed sales in 12 months + other upside

pessimists will say it hasnt even started receiving the minimum contract incomes as yet and wont report them in any material way for another ~5 months

so a very fluid situation based on currently confirmed deals + knowledge

+ no on knows what the actual earnings margin is - so knowing the appropriate price/sales ratio for the stock is tough