If as you say the P/E is quoted at 168, then agreed it is frightening.
But where did you get that number from? And how old is the info?
Correct me if my numbers are wrong, but if the company expects to make NPAT of approx $8.0 ml this year, and there are 95 ml shares in the company, then the P/E should be somewhere in the order of 57.
Given that's still a little high, it's not too bad considering where the company is heading, and therefore the price reflects this potential.
For the record, I got the $8.0 ml from their recent profit guidance, and the number of shares on offer came from the recent changes in substantial holdings notices.
BAL Price at posting:
$4.80 Sentiment: Buy Disclosure: Held