Another way to see this 'valuation' is the following....(but...

Another way to see this 'valuation' is the following....(but only through my eyes of course)

Bell have placed a target of $0.33 BUT on the following......
.....the options are converted to fully paid shares (see report).

So, with the current 312million fp shares and the conversion of 209.9million options - this will give MNS a total share registry of some 522million fully paid shares. This according to the Bell report.

Therefore their $0.33 on 522million shares gives a merket capitisation of $172million.

We are currently at $76.5million.

So keeping that $172million market cap in thought, if no options are excised till maturity we are left with the 312million shares on offer still..

So as I see it, the actual price target based on the $172million market cap suggested by Bell is
$0.55

Now there are a few other things into all this like finance etcs, but you may get where I am coming from with all this??
Should be looking at the the market cap Bell has assigned not the price target!!

Having some wine, so maybe talking shite...Still $0.55 fits better with other broker targets.

Just my thoughts....could be way off though.....hick up!!