Eucalyptus Capital, page-28

So I took a quick look at SMN. Very interesting company with game changing tech for the industry it is targeting. I like the look of it, definitely has something if the tech is accepted by the aviation industry.

When I look at any stock, I always like to check the market value the company is targeting, then with comparisons to the rivals targeting the same market, assign a percentage of the market value to the company. I usually do approx. 10% to be conservative. I then try to estimate the gross amount they would receive based on that 10% and the business model. I do a bit more after that but you get the idea (Heavy discounting is key for me).

That's the financial side, there is so much more like looking at management quality (past experience), remuneration policies and the niche or moat they possess. The current tech used to complete the work the new tech is trying to replace and its costs, issues, capabilities etc.

If you want more I would be happy to provide more info on the SMN thread.

Background is key to this caper.

Just my process.