I understand the pain shareholders have been through reading...

I understand the pain shareholders have been through reading back over the annoucements since listing. There has also been dilution through raisings. That said even is small chance that the company will achieve the budgets it has set it is still very cheap.

I will be amazed if they achieve the budgets they have set maybe a 1 in 5 chance.

If they did achieve the 2015 and 2016 numbers it will fund the US trial from cashflow.

If they achieve the targeted 2020 sales of $786 M (including US sales) at a margin of say 75% that is GP off $589.5M and say 10 times current OH level (7Mx10) would be 70M Overhead, that would leave NP of 519M. Currently there is 263M shares on issue say that increases to 300M from staff options then NP 519M / 300M is EPS of $1.73.

The industry is trading at a PE multiple of 21 with growth stocks (like SRX trading at 42). This would imply a value of (1.73x21) $36 to (1.73x42) $72  per share by 2020 if they did the numbers in their budgets and the assumptions like margin approve correct.

I am not saying they will meet these targets and they could well disapoint again and of course do your own research and indeed this company is an all or nothing bet a roughie so to speak.

Good Luck all long suffering and new Tissers.