Dear HC esteemed members. I'm new to investing, and especially...

Dear HC esteemed members.

I'm new to investing, and especially new to WOA. I have taken a small position in this interesting company a few months back because the company fitted my investing philosophy: Carbon neutral, innovation, social entrepreneurship and not hype-py.

Since then I have been trying to do a deep dive into this company, but haven't been able to even scratch the surface of this company.

I hope some of you guys out there can give me a little help, of any kind...

Here is what I currently understand, please correct me!

1) WOA has 3 product lines:
a) Dirty Clean Food:
An online platform for western australian farmers to list their food for sale. These farmers are actually more like partners who are aligned strongly with WOA philosophy of sustainable farming. So there is a lot of revenue going through this, but the profit margins (to WOA) is actually low, because most of the profits are actually passed on to the farmers.

And this is actually great, because it gives farmers a chance to actually sell food based on quality and values, rather than be squeezed on just price which encourages unethical farming or farming practices that strips the land.

b) Oatup:
A new product line that is just launched and personally if not for the lockdown, I would fly over there to buy a bottle and taste it myself.

c) Lupin
A product line that is currently in development phase, WOA just bought it over from Curtin university and will be commercializing it, paying them 12.5% if it makes it big.

Management:
Is excellent, from what I can see, the compensation of the management is on the borderline low side from what I can see. For very experienced people. And of course Anthony Mazlin is just pure inspiring. (Again, i wish I could fly over just to talk to these great guys)

Valuation:
Doing a rough simple valuation: market cap: 85million: on ASX, (and why are they also listed in germany???).
Taking the last quarter revenue, x 4 to annualise it, as a rough estimate would be about 3 million. So as a simple valuation, it is currently trading at 28x MC/revenue. Which is a little expensive for me, as a non software company.

Of course, that is because I haven't taken into consideration the release of the new product lines. But this one really starts to feel more like I'm buying a private equity.

I think I obviously miss many things, please please help me understand!