When the financials are out. The intrinsic value will be established. With the projects on the horizon, a trailing PE of 30 should very reasonable.
A trailing PE of 30 on the unaudited numbers is:
0.032 EPS X 30 = 0.96
with verification of the new contracts. 0.96 should be considered a bargain.
Forward EPS is around 0.20. We should trade up to a 10 PE in 2007. That would be 0.20 EPS X 10 = 2.00 price per share. Getting higher than that number will require new contracts above the pro forma.