Virtutone Networks Inc V.VFX

Base Case Valuation

[Millton]

Using Current Revenue

Annual Rev.               168,000,000.00
Gross Margin              4%
Gross Profit                 6,720,000.00
Operating Cost            3,400,000.00
Pre Tax Income           3,320,000.00
Tax @ 30 %                 996,000.00
Net Income                  2,324,000.00
Shares Outstanding    42,000,000.00
Earnings Per Share     .055
P/E Multiple                 10
Stock Price                  .55

Thats based on what Virtutone is currently doing , nothing more, but we all know theres more to come.