Hi Caroline, From a strategic perspective I would say that a...

Hi Caroline,

From a strategic perspective I would say that a good time to invest in a company is at them time it is making the transition from a pre-revenue, research operation into a profit-making commercial operation. The research is done, the trials have shown that the product is effective, the regulatory approvals are in place. The Federal Government has backed the company's entry into the local market. The company has begun marketing in other countries too. There is still no guarantee that Painchek will be a commercial success, but the product development risks are past.

In terms of actual valuation and "fair" value, I don't feel like I can offer much help. I find it hard to value a company before it has an established trading history because there are no earnings or profits to look at. Perhaps others might have more insight there.

But as I see it, if Paincheck can make the transition to commercial success then a few cents either way probably won't make a lot of difference to you.