What is EVS worth?

So I haven't done many of these kinds of calculations before so please see it as a starting point that is added to by others. Any feedback is appreciated.


SP at 6c = MC of $13,856,033
Revenue on recurring contracts = $1,574,000
= PE (excluding any other numbers e.g. losses) of 8.8

My expectation for a proven tech company at this point in the growth cycle is more like a PE of at least 25, so...
$1,574,000 x 25 = MC of$39,350,000 ÷ 230,933,876 listed shares.
Or SP of 17c.

However, they've said in the latest report that sales for the forthcoming year will be more than the last 5 years combined, so let's conservatively say 100% growth (from a small base) = $3,148,000.
So with a forwards looking PE of 25...
$3,148,000 x 25 = MC of $78,700,000.
Or SP of 34c.


I need to add that I'm not sure how to reconcile the losses given there's likely a significant proportion associated with one off costs (e.g. the sale, rebranding, establishing offices abroad etc.). If anyone can give guidance I'd really appreciate it, as my numbers are likely too high without including something to reconcile this.

Over to the hive mind.