Chart, page-96

Hi Footmax,

First, I need to admit I made a typo and it's "1.37 billion" not "1.7 billion", I sincerely apologise for this inaccuracy. But If LSE will happen, I believe further dilution will happen.

My valuation is based on Edison Report, which was conducted in March 2019. (A paid report requested by MGC itself)
https://mgcpharma.com.au/wp-content/uploads/2019/03/MGC-Pharmaceuticals-Edison-Report.pdf

As you can see from the report, the Peak sales revenue of all their products added together is around 1,280 million (90+300+830+60 mill), which will then bring up a valuation of 11.1 cents per share.

Now, consider the current MXC Share Price is 3.8 cents, 1,280 million / (11.1/3.8) = 440 million

In fact, MORE than 440 million peak sales is needed to justify 3.8 cents.

First, the Edition Report still valued Cannaglobal equity as 12.5 million, but in fact we all know that a it only worth 2.7 million now, there is an impairment of nearly 10 million according to the last financial statement. Second, this valuation is done before the last CR, so the denominator has been increased now. But for the ease for calculation, we just use the figure from Edition Report directly.

Hope it clears your doubt and if I have made anything wrong in my calculation, please kindly let me know. Thank you.