The thing is there will always be a pull back in the share price after an increase of this magnitude. Forward looking if the company achieved over $4m in revenue for the current quarter which isn't out of the question you have to change the multiple at which you price the company would increase as well to factor in the rate of growth.
100% growth rate is $4.4m
Annualised: $4.4m * 4 = $17.6m (Getting close to that $22m estimate I made).
Price to sales: $17.6m ÷ 450m SOI = 25
25 x $17.6m = $440m Market Cap
$440m ÷ 450m SOI = 97c per share
This is a forward looking valuation rather than the fair value estimate I gave of 43c
The thing is there will always be a pull back in the share price...
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