Goldmine in the making, page-24

The scary thing is, this could be any trading anywhere from 30c to $2.00 as internet growth companies are all treated all very differently. FLN for example with MC of $550M has substantial growth, is global and has $30M in revenues. 1PG is another global phenomenon with a MC of $420M but on $0 revenues at this stage. On the other side of the ledger we have MBE with MC of $76M, $30M in revenues and $3M NPAT. So its difficult to say where UBN belongs but don't think it's a $200M company at this stage. Maybe ACX is sort of the most closely related company and it's MC is $600M on $82M in revenues and $11M NPAT. So if we extrapolate the multiples from ACX and apply to UBN, then UBN should be ~40c. Don't think that will happen and yes I'm really clutching at straws as both companies are very different but you can get the gist that UBN can go much lower.