To take it a step further and again no consideration for the premium from its growth rate but here, taking into account taxes. If I assume 28 times PE (this is where its comps trade at) and assume a 25% EBIT that gives a price per share of $0.28 for Phase I and $1 for Phase II. So at a minimum I would think this should trade at $2 here and now and if you take this all the way out to the additional beds of Phase IV (and remember, this is only the one property) that would yield a price per share of almost $8.
I like the fact that this company does not issue fluff PRs. All good and factual progress. A very rare gem in the OTC market especially with the recent move to QB. Massive potential here.