166 lots built into houses, each houses is sold around $0.45 M with a cost of $0.3 M including the cost of land gives LGBS a total gross profit of around $25 M for the 166 lots.
Valuation of the company: 1. PE ( price to earning per shr ) = 10 2. OS = 3070 M shrs 3. E = $25 M / 3070 M shrs = $.0081/shr
---> PPS = 10 x $.0081/shr = $0.081/ shr * Assuming a Co can build the 166 houses in one year..
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