I look at what $VPOR can achieve on the revenue side next year, compare it to where it trades today and apply a fairly big O/S scenario to come up with a potential valuation. Note the word "potential" though because it is not a guaranteed valuation as at the moment, the company is not yet profitable hence it is not proper to put together a valuation and try to pass it off as the real thing. What we can put together is some valuation assumptions based on quarterly revenue performance of 2014.
Realistically, $VPOR can achieve $12 million in revenues with a net profit of 10% due to high margins. The GSA, IMHO, is skewed at the moment and does not reflect the true operating cost structure of the company. I'd like to get additional guidance/explanation from management concerning what is in the GSA so we can assess whether the majority of components should be considered "one time charge" types or fixed costs germane to VPOR's core operations. This is key. For now, I think a 10% net/net is achievable.
Revenue/net profit assumption: $12 million top and 10% bottom
O/S assumption: 1 billion shares
P/E: 20
This gives $1.2 million / 1 billion shares = 0,0012 EPS
0,0012 EPS x 20 PE = 2.4 c per share
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