Who said anything about a R/S? The discussion is about the existing fundamentals which determine whether a stock is undervalued or not. That means revenues, earnings and a lot of other things. All of which are reflected in the sp. You should read the 10-Ks for the past three years.
Fundamentals are very strong here. Thats why the company has not issued any new shares for 4 years. The company has revenues to pay for the expenses. I dont think any reporting trip stock with no stock issuance for 4 years and AS is only 1B.
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