Baltia Air Lines Inc. (fka BLTA)

[jimmenknee]

You were not that far off GreekInvestor, but you were assuming 100 million in net profits as opposed to 100 million in revenue. 100 million should be used to model PS and the pro forma net (in 2009 given as EBIT) to be used to model Fwd PE. Unless perhaps there is a model that projects 100 million in net profit?

A speculative target of $0.49 is actually "doable" if you used a 10x PS allowance for Growth-- just not sure you can apply it confidently to a company in the airline industry at this point in time.