Interesting analysis but I guess you are not comparing apple to apple. Any start up company will never be in the vicinity of 30x/50x, in fact most established companies won't be in that zone. Have a look at alphabet it is barely 6x.
With your logic if the company gets $400K of revenue, the SP will move up accordingly increasing the market cap. If SMX gets $400K of revenue, I assume the SP would go up to $2 and with 100m shares the market cap would be $200m giving you 500x.
The positives I get from the upward movement in SP are: 1. share holders have tremendous confidence in buying at this level 2. getting more funds from institutional investors (if needed) would be easy based on current average market price
But I am with you on the point generating revenue. I think one commercial contract is a lot better position than having 5 MOUs in hand! If any of their pilots gets successful in next couple of months, those buyers at sub 50 level would miss the boat.
IMO, please DYOR.
SMX Price at posting:
61.0¢ Sentiment: Buy Disclosure: Held
