$400-$500 in AUD yes. The biggest and more important market for...

$400-$500 in AUD yes. The biggest and more important market for SH is the US. There they are $299. That's perfectly positioned to compete with the other mid-range products. How much are replacement AirPods?

I'd suggest the margins would be at least US$100 per unit. Maiden profit in FY19? Doubt it. Analysts take the most absurd positions on companies in order to fit into their valuations. If they declared that we'd see a profit in FY18, the valuation could be too high and come off as a dodgey spruik.

IMO this company has very real potential to be valued at $200m. That's a multi-bagger from here. If the product really takes off an gets early start (whic it already has) then there's not reason it can't follow it the steps of Fitbit. The only difference is that Fitbit doesn't really solve any real problems - it's more gimmicky (heresy I know 0- I love my Fitbit). IQbuds solve a legit problem: listening to music while hearing the world around you. Think cyclists. That market alone is huge.

The easiest way to approach this is by asking yourself this: with a massive US retailer stocking the product and more retailers to come in AUS and EUR, can this company expect earnings of say $20m p/a? I think yes. That could value the company between $200m and $300m (PE of 10-15).

It's unique, solves a problem and cool. Sold.