Agree somewhat but it really doesn’t matter about the SOI or the SP. The end game will be determining what the company is worth so looking at the potential MC is best and then calculating the SP based on that.
If these guys crack all the nuts they think they have, it’s very plausible they could be looking at a few hundred million MC as the first stop. $200m MC is quite a few bags from here.
Far from certain but absolutely possible if they can deliver the products and penetrate China.
Ann: Appendix 3B, page-23
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