Mingy, using your system of valuation, I come up with the following: Based on the best information i can find, monthly sales are most likely in the neighborhood of $400,000-$600.000.
Using the more generous figure of $600,000.00 per mo yeilds annual sales of $7,200,000.00
$7,200,000.00 X .20 (assumed profit margin) =$1,440,000.00
$1,440,000.00 X 20 (assumed PE ratio) = $28,800,000.00 market cap
$28,800,000/3,000,000,000 OS = $.0096 PPS fair value
However, this method of establishing a fair PPs must be considered in the light of the following facts:
1) There is no credible/reliable indication that there is any profit on sales at all, let alone 20%.
2) Given that SPNG has been charged with selling unregistered shares, the true OS may be far higher than the assumed 3 BB shares.
3) In light of the SEC charges pending against SPNG, it is quite possible that SPNG will not exist within one year.
Due to the uncertainty and lack of reliable audited information, speculators would be wise to consider further discounting the fair value PPS of $.0096 by 25%-50%, and to limit the amount of funds put at risk.
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