While I agree that this is a long-term investment, I think your 2022 numbers are low. If they expect to complete phase B at the end of 2021 then that upside should come online in 2022. My guess is 2022 revs of $50-60M with net profit of about $12-14M or $.07 per diluted share. On the share price side of things, I expect $.60 by the Q4 report, $1 at the completion of Facility B and $1.50 by the Q1 report of 2022. We go to the next level when Facility D comes online at which point that should take us to the $3-4 range.
All just my honest estimates.