Monday, September 18, 2017 8:40:32 AM
assuming 200m shares fully diluted...
For 1st 6 mths net income so far this fiscal yr was $1.4m, x 2 for a full 12 mth fiscal, gets you to approx $2.8m in pro forma annual net income...
To be conservative, let's round down to $2.5m in pro forma annual net income
T/f...
$2.5m / 200m shares = $.0125 per share
AVG oil & gas industry P/E ratio is 20-25x (this is a standard and published ratio)
$.0125 x 20 = $.25
Conservatively PGAS should trade at $.25, but in reality maybe closer to $.50
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