The company does have revenue, however, the more important thing...

The company does have revenue, however, the more important thing to consider when coming to the value of a company is forward projections.

The company has some great work in the line, while currently not producing a large amount of revenue the company has huge revenue potential. There are a lot of companies running at very high premiums because of potential earnings and this has been a factor since the begining of time.

It's a risk reward play, if you are willing to have some exposure you can be well rewarded if you don't have the stomach for it go invest in a index tracking fund and stay away from start-ups.