Are you incapable of understanding plain English. Apparently not.
At no stage did I say the share price would go to $18.
What I did say, is that if SMN had earnings of $ 80 million & that would be several years down the track, after FAA approval & based on a P/E of 30, the share price would be $18.00 with the current number of shares on issue.
That is a mathematical calculation, not a prediction for the share price.
Similarly, earnings of $40 million, on the same basis, the share price calculates to $9.00.
It works out that for every $10 million of earnings, the share price calculates to $2.25.
That calculation will change with additional shares on issue & a variation of the P/E ratio.
Ann: An update from the Executive Chairman, page-54
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