Technically Speaking, page-513

As regards pool water treatment equipment with FRG, We only need to sell 5,500 residential and 5,500 commercial units to give us an EPS or $1 x 20pe for $20. That’s hardly denting 1% of the addressable US market alone. Then add australia, Canada, India, Japan, Asia. Then add air purifier, etc etc

If the market was not massive, if the market was not ready, if the product was worth million dollar such that it’s hard to sell, if FRG was a dud, then sp is expensive even at $100m. But PO3 is in the box seat. The potential is unbelievable. Beer has conveniently excluded ‘poor countries’ in its modelling. Come on Beer, these poor countries drink more beer than rich countries, just go have a look there’s probably more drunkards in those countries than in the US or Australia. They certainly can afford water and air purifiers. Include them in your model and stop being prejudiced.