Ok, let's assume 200m shares fully diluted...
For 1st 6 mths net income was $1.4m, x 2 for a full 12 mth fiscal, gets you to $2.8m in pro forma annual net income...
To be conservative, let's round down to $2.5m in pro forma annual net income
T/f...
$2.5m / 200m shares = $.0125 per share
AVG oil & gas industry P/E ratio is 20-25x
$.0125 x 20 = $.25
Conservatively PGAS should trade at $.25, but in reality maybe closer to $.50
What am I missing?
I made a comment earlier this should trade 5-10x higher than current $.04+