I tend to be very conservative, and I'm an IT major not an accounting major, so bare with me and take this all with the proverbial grain of salt.
Psoriasis creme sales, 2 Million monthly, 24 M annually.
Acne creme sales, 2 Million monthly, 24 M annually.
Consulting contacts, 50 K monthly (10 agreements, each $5K a month), 600K annually.
Sublingual tablet licensing fees, 9 K monthly (3 licenses at $3K a month during various clinical trials, much more money to come once any drugs are approved and sold worldwide), 118K annually.
Creme licensing fees, 50 K monthly. (5 licenses at $10K a month because of the ease of getting cremes to the market), 600K annually.
Settlement of lawsuit: 1 time payment of $2 Million.
So, in Q1 of 2018, OWCP might have $10 Million cash on hand, and will have poured millions into IRB and FDA studies for Multiple Myeloma, PTSD, and Fibromyalgia.
Revenue for 2016 would be half of the amounts above, so just shy of $25 Million. Earnings on that would be say $6 Million, or 4 cents per share. PE ratio is 145 in biotech, so $5.80 per share would be fair. Note, Forward PE in biotech is around 100 (so looking at $50 Million revenue in 2018, with $12 Million profit) that would be 8.5 cents profit per share, or $8.50 per share.
HOWEVER, the value would be higher based on where OWCP was with the various IRB and FDA clinical studies and/or trials.
Note that revenue should accelerate very quickly in 2018 and 2019, as cremes can be made available for acne, dermatitis, exzeme, etc, in a "cookie cutter" fashion. $20 per share in 2019 seems very reasonable to me based on the sale of various cremes alone.
AGAIN, I'm not an accountant so I could be comically, and laughably wrong on these estimates and my calculations! Happy to hear from someone more knowledgeable in this area.
