Dec 2021 Price Target, page-4

Based on the timeline given by AF and the anticipated level of acceptance of Spenda by the market I expect a significant customer base increase during 3rd Q 21 which will continue to grow over the years. That growth will translate into increased revenue / profit ( not sure if already at this stage cash flow positive ) which could be a 2 digit % increase but coming off a low start up base.

Assuming a realistic valuation with a PE of 30 for fast growing comps, about 3b SOI, at 10c the comp would be valued $ 300m. That would mean a profit of 10m per annum. Considering that an average, the 4th Q 21 needs to show at least $ 1.5m in profits. Hardly unlikely to get that number but if the uptrend in signing up customers is very strong then the outlook of more would justify 10c by year's end.

Would love to see a sp at 20-30c but let's start with realistic expectations the way AF is doing. Setting up a solid and satisfied customer base first, then aggressive marketing supported by " mouth to mouth " recommendation will get the sp way above 10c.

Everyone please be patient, it will take some time which is normal. But I am convinced that AF is developing CRO into a giant if he allows the company to progress in a controlled way and not as most of us expect " in a blink of an eye ".

GLTA and let us first " survive " the current market turmoil where according to the US investment cowboys " Good news is Bad news ".