RE:EVERYONE IS RIGHT I respect your level headed approach to viewing this from all sides of the coin. A few points would be that you are making assumptions based on information not necessarily posted here that is available. Much more due diligence has been done by a few on the ceo.ca board.
we can't assume 9 million annual sales (outdated and from an unreliable source). We can make inference from digging into active and prior projects completed by powertrak grow which is distributing emersongrow lights state side. One of the testimonials mentions emersongrow's Thor product being the light of choice for their new 300ksqft operation. You can find sources to suggest how many watts needed per sqft of led lighting for plant growth. You can use the thors wattage to then estimate number of lights needed. You can then see that this single job would potentially be a multimillion usd project. You then can contact powertrak grow (which people have done) and get the information that they've completed I believe it was 10 commercial scale projects in the US for various growers ranging from 2500sqft to 50 acre pepper farm (this one has been postponed a year due to covid which may correlate with why the DA here has been pushed back a year to try and have these large contracts to release as news post take over - this is speculation). You can look at emersongrow social media and see that they've recently linked themselves to other US growers (farmlife LLC in Colorado being the most recent). You can follow powertrak social media posts at trade shows, and AI grow light social media (a Canadian distributor) and see mention of several licenced growers connected to emersongrow. You can infer that clearly they have established commercial clients/sales/distribution. You can infer this will grow as vertical farming and marijuana growing is a growing trend and that many growers are opting to switch to LED light sources for cost savings (see every marijuana company currently slashing costs wherever possible). 20 million dollars is lights for already established commercial projects and the potential growth here.
The share count seems relatively irrelevant to me, explain if you disagree. Emersongrow will have majority ownership and don't forget the public float. If you read the first NR with the LOI you'll notice a third party clearing sens existing debt for 49% of outstanding shares (the 150 million..prior to Emerson's 133 million additional shares as part of the deal). This has been confirmed via direct emails with emersongrow management to be a partner going forward in the IofT field likely to help with the app/cloud/artificial intelligence angle of their patent. Between emersongrow and this partner they have approximately 200 million shares of the proposed 280 million.