Valuation

The name of the company caught my eye when I first discovered it today as we all know the exponential rise A2M and other related companies have gone through as of late I thought this might be a nice intraday trade, so I had a look at the prospectus.
Chinese founders are looking to expand milk products into the booming Asian regions. Sounds like a solid hype story.
Looked at management- non exec director related to UUV and DRO which had unsuccessful first day/week listings (tech hype stories)
fully diluted ~180m SOI @20c (before options) gives ~36m market cap and ~21m EV with ~12m cash (conservative) and ~3m assets
Sales and profitability-
2016- 2m sales .24 NPAT
2017- 1.6m sales .38 NPAT
2018- 2m sales .25 pro forma NPAT (actual NPAT .135m, COGS more than doubled for a 1/3 increase in revenue)

Using '18 figures we have an EV/earnings of ~84x, and an EV/average earnings of 72x.

Still has genuine merits of a pump and dump but at $0.2cps this is far too risky to stamp an investment rating from me given the earnings ratio and they've only just started ramping up the construction of the new facility (greater medium term cash burn) Quite frankly an attractive trade but one not worthy of the risk. Look forward to eating my words when it closes at 60 cents on day one
Anyone out there that has read the prospectus and is actually investing in this want to offer a contrarian opinion?