Applied DNA Sciences Inc (APDN)

[Skeptical Hippo]

SmartWater (forensic water) valued at $200m

New on here but have been interested in DNA marking stuff for years, as I really believe that have a great future. Have been following Adnas, Selectadna and SmartWater (also a few others but they seem to be the main ones in this field, unless you can point to any others).

This story was just posted in the British press about a European Private Equity house, called ‘Freshstream’ investing in SmartWater, the UK equivalent of Adnas, with other journalists suggesting that the valuation is around the $200m mark.

https://www.telegraph.co.uk/business/2021/03/22/british-firm-behind-liquid-data-gets-backing-rapid-expansion/

For them to get that sort of valuation, my estimate is that they must be producing profits in the region of $20m.

So, what can they be doing right that Adnas aren’t. I can’t see the difference so, as Adnas are the only ones I can invest in, what’s the problem, what are they doing wrong?