Market Valuation, page-5

Fair enough it has high margins on the gross, about 74% i think, but even with such margins other costs and expansion seems to have somewhat limited cash balance growth from profits over the last 5 years or so, i know they've stepped up the usual RnD spend last half but we haven't had them numbers yet. NAN has 35% of North America market and investors have no divi or ability to pay one out of true earnings after 5 or 6 years, is it ever going to make any money.? It's going to have to sell them a lot quicker i think if it is.
It has also already updated the Trophon to Trophon 2 because of winging customers (market feedback) wanting a more integrated electronic system to make documentation etc easier and less time consuming, one possible downside with the Trophon 2 means less consumable sales or items like printers for example because it gets integrated to the medical system from my understanding.

I do like how its established itself and made plenty of sales and most importantly kills the bugs but if i go long here how long will it be to get some returns? Is Germitec going to get Fda approval and try and compete with NAN and/or are the high margins going to attract other competition? On the plus side NAN has had a big headstart and become known, built its moat etc so maybe competition not a big worry for a few years or longer.

I would like to see how people place a billion dollar value on it though because ive got to be missing something or struggling to picture the future.