Thanks Zman I think you used top line rather than earnings as...

Thanks Zman I think you used top line rather than earnings as Denominator for P/E. I did some back of envelope math as follows:

Assumptions:

Population size: 400k dementia patients
Conversion: 20% (where APP use is relevant)
P/E: 20
Margin: 10% (initial High operating costs)
Revenue p.a per patient: $120

Valuation: 400k x 20% x 10% x $120 x 20 = $19m vs current mc $66m fully diluted.

Anyone has any thoughts on above asssumptions? My view is that dementia app use in AUS is just a launch platform to global larger market.