German Research Report - 9c Target, page-5

And who is @stockcomment who has posted 6 times on HC, each post doubting the bona fides of ASP?
I have taken the liberty of copy/pasting their Exec Summary from the 20 page report.
I find that they justify their numbers more comprehensively than your insinuations that at 9c the company would be overpriced.


EXECUTIVE SUMMARY
• Digital Transformation Complete. The company posted 4 years of continuous growth and is now debt free for the first time in the past 8 years.
• XaaS Business model B2B Solution. The company deployed their Horizon platform at the beginning of their digital transformation, a tool specifically designed for this business model, and is now posting best in class KPI’s.
• Scalable business. 7,4 million contacts and a new lead generation program should increase gross margin and the company’s bottom line. The company should grow in new sectors and duplicate their current success recipe.
• Profitable high margin results. With increased gross margins, we project the company to post their first positive net profit FY results in FY2021e
• Ready for new growth phase. With over 7,3M AUD in cash, the company will be implementing their new growth strategy. Capital investment should increase considerably and unlock new verticals in the next 24 months.
• Future revenues projection: On this basis, we expect a profitable growth phase to begin in financial year 2021, which according to our calculations should grow by 20% YoY for the next two years. With this expected strong revenue momentum and developing economies of scale, the gross margin should increase to 60%.
Based on our DCF model we have determine a price target of 0.09 AUD per share.

No doubt if pushed, you would say ASP should have a $2.25m MC.
I don't know why you have a bone to pick with the company - disgruntled former employee? - but its obvious that you do.