Been a lot of water under the bridge since those projections. The business models have been reprioritized, with the wholesale centers expedited and restaurants added. Don't think import export was anticipated at that time either. Fish Farm and Cattle Farm contacts and service revenue appear on target, with fish and beef sales ramping perhaps a little slower, but acceptably. NTA looks slightly ahead of those very ambitions targets, with earnings slightly below, and eps way below.
Of course, lower eps was almost fully a function of dilution, which has simply become a fact of life.
Even with dilution, the primary SIAF story is intact: huge growth at a ridiculous price. If the p/e remains constant -- at about .62 -- then the pps will appreciate 50%/year for the foreseeable future.
If the FN listing and/or a bond offering and/or new professional IR and/or road shows and/or less skepticism in the space and/or the credibility of $225M 2012 NTA and/or the critical mass of $250M to $350 2013 Revenues and/or eligibility for fund buying and/or the end of new share issuance and/or cash flow positive operations, and/ or significant cash on the balance sheet, and/or further uplisting and/or a spin out happen, gotta believe the p/e will be higher than less than 1.
Gotta believe that if/when half the above happen, understated, the p/e will skyrocket to 2+, or a 7+ bagger from here.
AI
