Petrogress Inc. (PGAS)

[Kgs68]

Ok, let's assume 200m shares fully diluted...

For 1st 6 mths net income was $1.4m, x 2 for a full 12 mth fiscal, gets you to $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

$.0125 x 20 = $.25

Conservatively PGAS should trade at $.25, but in reality maybe closer to $.50

What am I missing?

I made a comment earlier this should trade 5-10x higher than current $.04+