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CharlesNet

10/27/11 2:08 PM

#14274 RE: licker4450 #14272

I realize it is an unfair comparison for the reasons you mention but also because these are much larger and slower growing companies. However, it is hard to make an equal comparison to WNRC. I guess my point is that I don't really know what the shares price should be due the the extremely small size of WNRC. The only thing that seems reasonable is that WNRC will grow with it's revenue.

I could feel comfortable saying that perhaps a 1.5 - 2.0 multiple on sales is maybe "okay" but to move much beyond a 2 multiple would be difficult until WNRC can move its revenue up significantly.

That said, the shares price should at least move up in lock step with its Revenue and possibly at a quicker clip provided that Earnings move up at a higher percentage rate that revenue.