From Harbinger Reserach Report : even if we use $0.05 per share as a base EPS number, companies with growth rates similar to that of POTN routinely have EPS multiples of 40x or even 50x earnings; this is especially true when the entire industry in which they operate has a similar growth rate. So in light of this, a value 18x a 2020 EPS estimate that we have already discounted by 50% for dilution seems relatively conservative, and should give significant upside to our $1.25 per share price target.