It has been suggested that SMN, through the Anodyne business, should have earnings of around $6 million in the next year or two.
If we examine the situation, without FAA approval & a failed rights issue, we could be looking at earnings of about 5 cents per share. On a Price / Earnings ratio of 30 the share price would be around $1.50.
If the above is reasonably accurate then the current share price should be at least twice its current value, taking in the above projection & the pending FAA approval.
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