Noted your comments. If you read my post, I clearly stated that...

Noted your comments. If you read my post, I clearly stated that as comparable in the context that they have almost similar total shares outstanding. In this case, I have compared Market Cap of NVA (of $43 million) versus MEI ($63 million). Of course I know that share price is not comparable if the total shares outstanding differs significantly but in not in the case of NVA versus MEI, their total shares outstanding is almost the same.

Total shares outstanding of NVA = 932 million versus MEI = 984 million.

So actually total shares outstanding of MEI is higher than NVA but the share price of NVA is sitting at 0.048 and MEI is at 0.069. In other words, If and if we could calculate the P/E ratio (in this case, we can not use P/E ratio because both companies' EPS is negative), P/E ratio of MEI could be higher than NVA. So relatively to MEI, actually NVA at 0.048 is relatively undervalued if other factors are held constant.

This is not an investment advice.