A couple things CommodityPro:

Nowhere in the release does it mention another 10 - 12.5M in revenue. The only thing I see is the 11-14M. So I think this throws off your calculations a little bit.

If we take your assertions of profit margins at face value, then profits will look good as contracts increase. I'm not too worried about this because they will increase- whether you include the 10 -12.5M right now or not.

Another thing I must question is whether a small industrial company will get a forward market cap of 20X earnings. The large industrial certainly don't; however because Exousia is small & the growth rate is much higher (law of large numbers), we may well get a MC of 20X or more for 2-3 years before growth slows due to LLN.

I'm quite confident we have enough revenues to warrant a 50M maret cap right now, which equates to$1.51/share. More contract with the margins you suggest means a  proportinally higher SP.