That is correct $18.00 per share on a P/E of 30 when earnings of $85 million are achieved with about 143 million shares on issue after options were exercised. Earnings of $85 million are likely to be achieved when several tier 1 airlines are fully fitted with sensors. It is likely to be several years down the track.
The above is simply a mathematical calculation to emphasise the likely share price when earnings reach that level.
If you disagree, it is only with the mathematics.
Ann: Preliminary Final Report, page-22
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