Ann: Appendix 4C - quarterly, page-19

Looks like you've confused cash flow with profit. With a profit of $5.6m (EPS 0.11) and a P/E multiple of 18.10 (sector standard) we would have a share price of $1.99. That multiple could easily fluctuate depending on sentiment.

For now, we have revenue/sales or EBITDA (guidance is $3m - $5m for FY19) to go off. You could use the EV/EBITDA valuation as those stock market newsletters did, suggesting it was at a 5x multiple compared to peers of 11x and 15x, but these are general guidelines and there are no hard and fast rules to valuation. As above I was trying to use marketcap/revenue (price/sales) to compare to my other small caps - on that scale it looks great, but it is not enough and probably not that wise comparing across different sectors. 

The CEO wants to build a mid-cap telco. That is also a multiple of 10 (minimum) from our current market cap. Another valuation you could use if you just want to set and forget.

I'm no expert, so I'd like more insight from the telecommunications pros hanging around.