DW8 Growth, page-10501

$109.14M MC - $7.5M cash = $101.64M / $4.1M run rate via Q4 FY21 4C = x24.8 multiple now at 5.8c SP.

If Q1 FY22 4C is about $3M x 4 = $12M run rate x 25 similar to now = $300M + $10M cash = $310M MC / 1.881B SOI = about 16.5c SP.

If Q2 FY22 4C is about $5M x 4 =$20M run rate x 25 = $500M + $8M cash = $508M MC / 2.46B SOI = about 20.5c SP prior peak.

Revenue multiple can easily go to x40-50 x $20M run rate = $800M to $1B / 2.46B SOI = 32.5c-40.5c SP with momentum & a few good announcements.

SP target 1 of 33.5c, SP target 2 of 39c are both in play.

Earlier this year the revenue multiple exceeded x100. SP target 3 of 58.5c will require a revenue multiple of x72.