Not sure about $1.75 for TRF, I make it closer to $1.20 (rough calc)
I have not been able to listen to the broadcast yet but assume the valuation does not factor in the pending capital raising. If shares are issued at the current price to raise the $26m required then my guess is the target price will be lower at about the $1.75 level for IFE. And TRF may not be worth more than $0.90
