Always look back 12 months imo. Another thing is, let's say for example people think VEC will be worth 100m MC when the DFS is released. Would you pay now 100m MC for it? no. You want atleast 100% return when trading this end of town. So paying around the SP value of 50M MC is about right. Some don't even touch small caps unless there 200% return potential. Once you take in all the shares on issue, plus outstanding shares and the 300m shares which will probably be used for a CR soon to continue their other projects then I bet 2.7 isn't far off 50M MC. I haven't done the numbers though.
