Ok people back to basics. I can't stomach some of the naively on...

Ok people back to basics. I can't stomach some of the naively on this forum.
Shares are basically priced on two things. Earnings and the potential in growth of earnings.
Nothing else.
120 mil in revenue does not equal market value. There are costs involved.
A lot of them. Just look the shares to be issued and money owing for this tech.
Yes I know this a specy, however the rules still apply.
Specs are more about potential of earnings. Until the costs involved with supplying the product are clear. And revenue streams are shown to be repetitive. Then valuation will remain well below par with revenue.
Ie perhaps 20%-25% of revenue. IMO