Their are plenty of companies with no revenues that are worth more. It comes down to the IP, stage of development, management, etc.
The product is currently available. The management all have some level of experience within the healthcare sector. You need to be forward looking and discount for risk.
Considering the recent rights issue and Bergen note, they are cashed up. Excluding cash the EV is about $9mil. Seems cheap for an available product and a future smartphone app. But it is being held down by selling from Bergen and the rights issue. Buyers keep soaking up the selling.
The revenue forecasts by MD seem very pie in the sky. But cash + asx listing costs + accumulated tax losses + IP, 1c seems about fair. But it deserves to be where it is for the time being because of the sellers.
ISN Price at posting:
14.0¢ Sentiment: None Disclosure: Not Held
