Dom, I've said in more ways than one how I see very easily how PGUS could be / should be trading in the $1+ range a year from now. There are various old posts that you might look up, but the sticky post above (#32289) gives all the basis info for a valuation based on "comps" for the Cielo Mar project and the Sterns forward PE ratio for farming/agriculture to value the agriculture operations. Don't use my numbers - use your own and plug them into the equations.
"So the minimum value of PGUS upon closing on the oceanfront land is arguably in the range of $0.16 pps"
BUT... based on the formulae and Jan's Goals that he put out in the CC, the Ag operation contributes $0.2+ to the pps valuation a year from now.
The contribution from the simplest (just selling lots only, like in Jan's goals), most conservative (using the no-luxury trailer park value comparison for the land) - the Cielo Mar project contributes over $1 to the pps valuation.
Right now, based on that (#32289) post, the minimum we should be trading at is $0.16 NOW, MINIMUM (for example, if the bulk of the market/investors in PGUS stock are of fairly low "investment qualities" and have a very short time horizon).
In short time, as soon as Jan has the most basic plan together for a market offer on lots... that goes up considerably. A very conservative estimate at that point adds 0.1 to 0.2 to the pps, so 0.26 to 0.36 is a CONSERVATIVE valuation within 2-3 months. Easy to see from these numbers how it grows to $1+ with more time.
These numbers are based on 1) Ag operations profitability, and 2) contribution to valuation based on asset value of the Cielo Mar land only (that's like having a fire sale). There WILL be a higher valuation based on continuing operation of the business and EBDITA, as there won't be any fire sale going on.
As I suggested above - don't use my numbers, use your own. Just plug them into the equations.