Nova Eye (EYE) Summary 31 Dec 2023, page-14

Just having a think about the low valuation and high growth runway points you mentioned.

At a $50m market cap this is indeed being valued absurdly low. Even for a pre-revenue speculative company in distress, $50m would still look low.

From a numbers perspective, buying shares whilst this is at a $50m market cap means:

• 10x upside at a market cap of only $500m ($2.60 share price)
• 20x upside at a market cap of only $1 billion ($5.30 share price)
• 100x upside at a market cap of $5 billion ($26.30 share price)
• 200x upside at a market cap of $10 billion ($52.60 share price)

Those are all fairly realistic targets. If this were US listed, $10 billion would in fact look quite conservative. If 2RT is indeed FDA approved, that could very well make a $10b market cap look very cheap. But even if it isn’t, iTrack Advance alone could probably get this valued in the billions once the market decides to wake up! Lots of quality growth stocks like EYE out there, but most are already valued above $500 million and so the upside is usually capped at a max of 10x, which of course is still fantastic. However EYE really does have a tremendous amount of room to run, especially if they can keep coming up with new and innovative products.

I think I’ve made myself want to buy some more shares on Monday!