Algernon Pharmaceuticals Inc. C.AGN

A simple Nasdaq Uplist analogy requiring a U$15M valuation.

[C10H12N2]

Let's just say XYZ company makes a marijuana breathalyzer. They have been working on such a device since 2014. The company is on the threshold of commercial sales of its breathalyzer come Q1 2022. The company successfully sells millions of dollars worth of it's device in the first year of sales. Let's just say they did U$10M in the first year. Are you telling me that the same company would have to wait until it had U$15M in sales for multiple years BEFORE it could unlock it's real potentia value by uplisting? If that were the case there would likely not be Venture Capitalists/Private Equity putting up seed money for 1000's of companies every year. It's all about getting to the IPO. The market valuation is forward looking - what should this  company be worth based on future sales not past sales. The IPO for Algernon will be based on what the market believes is the future value of Algernon. That's what analysts do - they predict the future $$$. GH Research (psychedelics/DMT) is a U$1.25B market cap company. They have zero income and U$280M in cash on hand. Bellus Health (Chronic Cough) is a U$800M market cap company . They have zero income and U$26M in cash on hand. Algernon (DMT/Chronic Cough) is a U$5M market cap company. They have zero income and approximately U$3M in cash on hand. 

Obviously Income is not a factor. What’s the primary factor between the above companies is two of them are listed on Nasdaq and one remains in No Man’s Land.