What do you mean by "pricey"?. IMO, as an emerging gamer with...

What do you mean by "pricey"?. IMO, as an emerging gamer with global scope, EM1 is under priced at a market cap of $22 mil.

My rational is as follows:
No of shares (diluted) , say 800 mil max
Forward earnings over the next :
(a) 12 months...........say $5 mil or eps of 0.625c or a SP of 6.25c @ a P/E* of say 10
(b) 24 months...........say $20 mil or eps of 2.5c or a SP of 25c @ a P/E of say 10
(NB: Mr Market always looks forward and usually allocates a high P/E to a company with good growth prospects)

Now, what is your rational of saying that the stock is pricey?