I'll offer one. It needs to generate a minimum of $1000m just to...

I'll offer one.

It needs to generate a minimum of $1000m just to service debt over five years. Endorsement suggests those inside the rent think it can. Therfore at Yr5 it is producing minimum of $200m cash. Growth at 6% discount rate 10%. With that info we have.

200/.10-0.06 = 200/0.04 = $5000m

PV 1.10^5 = 0.62 * 5000 = 3104 / 400 (expanded SOI) = $7.76.

No that I think it is worth that today. Theoretically if it generates cash to pay debt then it will be established and continue on that trajectory, all things being equal.