Fiore Cannabais Ltd. (FIORF)

[artweed]

In the broadest of terms, given a roughly $10M annual revenue, and utilizing a conservative P/S ratio of 12 (Aurora's current ratio is 20, which is normally way too high, but Aurora was at 80 just a few months ago and CGC is at 25 even today), Citation's market cap should be $120 million now. There are other $120M market caps in the cannabis industry that have similar revenue.

Given that Citation's market cap is currently $20M, a market cap of $120M would lead to a stock price of about US$1.93.

Other Comparisons:
Emerald (EMHTF) has a $100M cap and $8.3M revenue trailing 12 months (TTM) (P/S of 12)
Organigram (OGI) has a $550M cap and $75M revenue TTM (P/S of 7.4)
Green Organic Dutchman (TGODF) has a $236M cap and $8M revenue TTM (P/S of 59.5)
Tilray (TLRY) has a $2.4B cap and $94M revenue TTM (P/S of 25.5)

Given our licenses and potential for growth, you could easily give Citation a P/S ratio of 20, which would put us at a $200M market cap and $3.22 stock price.