I thought most individuals knew that with many penny stocks that the valuation or market cap is based on expectations , speculation, and potential and not always on profitability at a point in time.
In fact "BONZ" is probably one of the best examples of this. Consider what the shareholder's expectations were for the company back when this was trading for under one cent versus what the shareholder's expectations are for the company now with a new C.E.O., financing secured, and gold production starting any day now and a share price in the .04 range currently.
If someone takes the time to research some penny stock they'll find that there are 100's of them who's market cap has no relationship to current revenues or profitability.
When "BONZ" share price is in the .12-.15 range in a few months it may not relate directly to the amount of gold revenues announced in December but more to the expectation of what lies ahead for the company.
I hope this will help you and others get a better handle on how penny stocks are valued by the market and the shareholders.
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