This year will certainly be a loss given revenue of only $5 million as Directors said in the last AR that we need $7-8 million to break even. Of course profit projections for future years are uncertain, but you seem to be saying the company is worth whatever you want it to be. In my view the share price has to be based on (conflicting) views of future profits and the certainty attached to them.
Directors have given us enough information to make some rough estimates based on their expectations for the next two years and we can then see how we perform relative to those estimates. Of course the projections will be wrong. The share price will respond depending on whether contracts arrive as hoped and then how much profit they actually generate.
Saying it is all too hard to come to any judgement about future profits ducks the key investment question which is whether the current share price is cheap, reasonable, or given the uncertainty, expensive. Not easy judgements to make I know, but necessary even with start ups if you want to make money.
PHK Price at posting:
15.0¢ Sentiment: Hold Disclosure: Held
(20min delay)