value ? the MC is about 450m minus cash let's call it $350m...

value ? the MC is about 450m minus cash let's call it $350m . remember risk is dynamic & relative , the essence of intelligence is the ability to predict outcomes , the basis of prediction is statistical , each element of the business plan equation has a numerator & a denominator , nothing is certain in the absolute it's a statistical probability , it's not like accounting which is entirely absolutes . For example if you want to assess value we need to ask is their IP valuable ? what do we know ? we know the Nobel winning inventor of lithium batteries (and a lot of his team) is involved , we know he's been involved for sometime , we know their claim competitive advantage over other battery tech , we know they've encased that IP in platform model which MNS owns 10% so the leaders in their field have adopted a well known monterisarion model for IP , all this feeds into a complex equation of probability none if it's absolute , all relative to reward , which is variable , for example if I think it's worth x10 under a) scenario or x3 under b) scenario then then I need to calculate the probability of a) or b) unfolding them appropriately size my investment relative to everything else I own