looks like pure speculation. How can a business that only has...

looks like pure speculation. How can a business that only has equity of 3.48m (refer 30 June 2014 Annual Report) be close to $10m (on current share price)! And even then the equity on the balance sheet includes $1.576m in intangibles so real assets are probably closer to $2m which is around 20% of current market cap (i.e. 80% over valued on these metrics). The only way this share is worth current multiples is if there is with spectacular growth in profits in the future. I'm not saying that can't happen (as I really don't know enough about the company), however it requires spectuacular growth to justify this type of valuation on an ongoing basis. If this doesn't eventuate then the price is likely to be re-rated. I'm assuming this is just trading like this due to pure speculation, but do your own research.