Ann: Appendix 4E, Financial Statements and Annual Report, page-7

market cap 23M
Total net equity 6.3M (you would get if you were to liquidate the business... Everything is very liquid)

So you buy the business and fork 23-6.3 = 16.7 (or you could substract -8M which is the total current assets)

Maintainable earnings on a Quarterly basis were last quarter 1.56M an increase of 6% QoQ (or 0.16c per share)

Assuming a year is just 4Q, that would make it 6.36M or 0.64c -> 0.0064$

So if all R&D and so on stopped that would mean a PE of 0.028/0.0064 = 4.4

But there is the spend in growth which in theory gets us a return on incremental investment of 85%

Problem is that these numbers are not standard... So you need to trust management on these.