$0.22 valuation

With a guidance of EBITDA> $8 million [and taking an average NPAT% based on prior years at 65% multiplier of EBITDA), NPAT should be > $5 million

If we put a P/E of 15 (market p/e) we get a $75 million valuation or $0.165/share (450 million shares/options on the total register)

If we put a P/E of 25 (which is the tech sector MBE is in and aligns more closely with the phenomenal growth rates we're seeing), this gives a valuation of $125 million or $0.28/share (450 million shares/options on the total register)

Currently we're seeing $0.15/share or a P/E less than the market. Given the incredible global footprint built out and the continued growth, every quarter, I wouldn't be surprised if we see a conservative P/E of at least >20 [less than tech sector but still above the market, i.e. in between the tech sector and market] --> that gives a valuation of $100 million or $0.22/share

Simple arithmetic.. MBE is very undervalued. The big money /institutional buying will put this way ahead of where we are at now. Mobile isn't going away any time, it's here to stay and it's growing. This is a business with a competitive advantage in a rapidly growing market. Do the math..