Asw stated by numerous posters the constant key is lack of...

Asw stated by numerous posters the constant key is lack of information. The distinct impression I get is that the "value" has been attributed based on PROJECTED revenue - NOT actual current and / or historical revenue.

IF the impression I have is true then the reality is that the valuation is not something I, as an investor, would be wanting to put my money behind. Valuations on this basis - WHEN BUSINESSES HAVE NO PROVEN INCOME OR PROFIT HISTORY - are extremely unreliable and amount to "this is what the company should be worth today if what they tell us regarding income is true".

The reality is that on projected revenue the value has to take company budget as the starting point, and it is extremely difficult to prove or disprove the future (well, until it is past).

Just my thoughts. For all I know it could be based on actual numbers but the lack of information provided to this effect, plus the wording of today's announcement, doesn't lead me to believe that. Further, even if based on projections it is possible they will be achieved, overachieved, or underachieved.

MJS