You can justify almost any price at almost any time period, depending on what SIAF gets done, and by when.
We all know what positive catalysts are out there:
1) Sweden listing at First North could raise the p/e multiple from 1.5x to 10x, who really knows?
2) More senior US and Sweden listing, same as above
3) Bond offering that eliminates further equity offerings, and removes share overhang and dumping (plus 50% to ??%)
4) 2013 earnings of $1.00 = 50% increase, so same p/e multiple = +50%; higher earnings, more
5) Spin outs : very, very good
IMO, these all will track like the Form-10 process and past operational and financial history: very good, but not 100% to guidance, with many branches ramping slower than hoped. But again, still very good.
And we never discuss threats, ranging from droughts, lost contracts, franchise failure, fewer new contracts (FF and CF) than projected, global slow down, etc.
Probably not the answer you were looking for. But let's just watch. As these milestones materialize, long term loyal investors figure to be very happy, indeed.
$2 target is still very important. Hope to see a bond offering and First North listing before more equity has to be issued. That would go a long way to justify lofty expectations.
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