Based on where it could be in 12months if just current growth is maintained then it is undervalued. The company had a net loss in 2017 of 4.7m (-3.5c) reducing down to 2.1m (-1.5c) in 2018 suggesting it could be at break even within 12months if similar growth continues. However, with the company not only growing current revenue streams rapidly every quarter combined with developing and buying new revenue generating streams it is not impossible to consider break even within 6-months with profitable within a year. Thus the -1.5c earning per share for 2018 could quite easily be positive earnings of 1.5c per share come this time next. At a PE of 25-30x for a growth company we will see a fair share price of 35-45c. This is without evening considering the impact on earnings once they have the 1st stage restricted deposit taking bank licence. I can easily see this at 1.00 within 2yrs and 1.50 within 3yrs at acceptable and realistic PE ratios.
