Ann: Quarterly Activities and Cashflow Report, page-2

Someone want to work the math for me here... looks like roughly 7 mil free and clear per quarter, but debt repayments not yet commenced which may be the anchor. One would imagine that ramp up and downstream products would resolve that? but what's it all worth? 450Mc may seem a bit rich based on (projected) sales when held against industry P/S ratios... admittedly those ratios tend to be a pluck as they average the average.

Someone jump in a educate me