too bad to be true, page-2

This is a very small company, so it does not get a lot of support.

In my view the sell off has been caused by people exiting at any price. I've been buying, on the basis that this is actually a company that is now producing a profit. It is moving beyond the R&D phase, and we should see strong profit growth in 2009.

When this happens, I'm confident the SP will reflect the progress the company has made.

The maiden profit was only 0.6c per share. I use a 100x multiplier to give me an idea of where this might go. That's based on the profit increasing 10x from the maiden profit, and a P/E multiplier of 10 also.

Crude, but it gives an idea of value for the stock around 60 cents. As for timing, when it gets there - who knows. Certainly not before the second profit is in, and the profit this year needs to be a substantial increase (>100%) on last years on an EPS basis.

Unless there are problems that I'm not aware of...