March Quarter free cash flow of $1.6M x 4 = $6.4M (annualized) x...

March Quarter free cash flow of $1.6M x 4 = $6.4M (annualized) x 20 for valuation of $128M or $0.99 per share.
June Quarter free cash flow guesstimate $2.5M x 4 = $10.0M annualized x 20 for valuation of $200M or $1.54 per share.
September Quarter free cash flow $3.5M x 4 = $14.0M x 20 for valuation of $280M or $2.15 per share.

Quarterly (global) operating and investment expense of $4.0M established and stablized for last 3 quarters. This thing is going BIG.