Ann: Update to Integration Agreement Signed with Nexus-Vita, page-21

I agree, however all forms of stock investment has a degree of speculation involved as the stock price today is essentially discounted cashflow of the future, and the part we all speculate is what is that future cash flow actually is. So future earnings must be accounted for at all times, PE ratio of the past useless, however I was talking about future PEs.

Yes companies like Brainchip or Afterpay as people mentioned have market cap over $1bn, that's because the market is anticipating future earnings will justify that. People are plugging in hypothetical future earnings in their DCF model and come up with current price of Brainchip/Afterpay (and yes in that way you can get future PE ratio of a loss-making company), otherwise aren't we all just gambling? Anyway, I was just making a list of 10 baggers in 12 months for my own interest and this was one of those stocks, this company really needs to grow its revenue (super) rapidly to justify the valuation.