Ann: SBW record revenue of US$10.5 million (unaudited) in 1H FY21, page-17

I have a slightly different take due entirely to the tightness of the share register. Most of the big holders have Israeli connections. They never sell cheap. There no soft underbelly for a hostile takeover to get a significant holding, unless they go with it.
So, given they would understand the potential of their company, they would not sell cheap. Any price would have to factor in a lot of growth potential. If not I would assume they know there isn't much more.
If we think it will be $3 in 5 years (just an example) & they accept an offer for $2, personally I would think that the $3 was probably wrong & that <$2 is probably more accurate.
Bottom line IMHO - whatever it goes for will be slightly more than what it's worth and probably less than what we think. And for that reason I think it will be very hard to get SBW away from the big boys ever. And we minnows will benefit from that, unless they decide they don't want us any more and delist.