Ok I'll have a stab at this.
Based on earnings of $20M. OBJ have a share register of 1.7B shares. The most optimistic P/E ratio of 32 gives a per/share value of 0.011 cents and a share price of 0.36 cents.
A sector p/e ratio of 18.5 gives 0.21 cents
An ASX p/e ratio of 15.19 gives 0.17 cents
Interestingly B&Y gives a most optimistic value of 27 cents and risk value of 15 cents.
Right at this point in time without any further licencing agreements we're probably fair value 8 cents.
Give 2 new licenses we'd see 17 cents easy on projected earning alone.
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