Valuation target.
Our analyst sees this potentially .01 or 10X pretty quickly. Most subs in U.S. are valued around $2500 each. In China/HK we guess 1/10th or $250ea (public estimates are $500-700). Multiplied by 1 Mil users we see CMM value of $250Mil possibly 1 Bil if they load their 5 Million users- they increased capacity to 5 Mil for a reason, no?
Vela owns 75% of CMM, we conservatively predict 50% ownership. We have no real comfort on shares. 3Bil was latest filing, but could be 4 or 5 Bil.
our conservative numbers assume value of $50-100 per user. 500K-1Mil users. Assuming the SEC closes the door on Ironridge global, then we see 5-10X from here, possibly higher over the next 1-2 years.
