JAT is target 0.15 ?, page-224

Late 2017 I think it was they transitioned to from energy to FMCG and specifically including milk formula. There was a prolonged trading halt addressing queries from the ASX, then on reinstatement it rocketed, on potential and FOMO as there was no performance to back it up. Insert a year of good deals, dud deals, management "issues", CR's, NCA voluntary administration and so on and we're now here.

To answer your question though, the company is in a much better position now. Back then, the MC was pure speculation based on what-if's. There is now a further 12 months of implementing the strategy coupled with tangible revenue figures. It was valued then based on what it should have been, rather than what it was. There's still lingering issues around SMRA application and status, but hopefully there will be some information on that to come. In any case, the 4C should hopefully speak for itself and again, hopefully, in a really positive way.