Ann: Agreement with Trend Micro, page-13

goody097 - I'm interested to know how you arrived at a price target of $0.014? Its a serious question. Do we have a multiple's analysis of Cipherpoint's trading peers from which to apply to the company's earnings/future earnings? If we annualise the most recent quarter of earnings we arrive at Group earnings of $12m/yr. Group expenses are still somewhat of a mystery and we may need to wait until the next qtr to get a better idea of what these will be on an annnualised basis. But if the group is profitable, and I suspect they will be, we should expect to see a trading multiple of 8-12 times. But I'd be interested in how you see that, given you have a price target in mind