There are so many variables there (i.e. future/ current contract value, share structure changes, unforeseen competition, etc.) that I can't really answer what their market cap could potentially be.
Near-term, I think the S/P will run up to the .20 - .30 range, maybe higher.
I do think that they're definitely in a billion dollar industry, but I don't know what the companies ceiling is. I personally think they will breach at least a one billion dollar market cap at some point and, with current share structure, that would put them at around $1.34/ share. IMHO, with an abundance of contracts and lack of competitors, it could easily grow into a multibillion dollar company.
At 3 billion, with current share structure, the S/P would be around $4.03.
It looks as though; w/o it actually being spelled out; they're getting a U.S. government mandate for GSA contractors who deal with DOD to use their product. If that is the case, and there are no viable alternatives, this company could explode over the next two years.
CNN wrote an article regarding the threat of counterfeiting that states: "By 2015, ICC expects the value of counterfeit goods globally to exceed $1.7 trillion. That's over 2% of the world's total current economic output."
You tell me how big the market cap here is?
Has anyone on the board scouted APDN's competition?