some company value calculations, page-60

Alright Flyboy,

I don't normally respond to your posts but I'll take the bait this time.

Please show me an example of a company valuation which doesn't take into consideration:

1) royalties and other taxes (C2)
2) amortization and depreciation and other indirect expenses relating to the project (C3)
3) general admin and corporate costs (other company expenses not related to the project)

Thanks.