| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| FFNT.F | HRMY | EOLS | TARS | CORT | | LPCN | |
| OTCPK:FFNT.F | NasdaqGM:HRMY | NasdaqGM:EOLS | NasdaqGS:TARS | NasdaqCM:CORT | | NasdaqCM:LPCN | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 91.7% | 160.2% | 50.1% | NM- | 17.1% | | 132.5% | |
| 3Y CAGR | 19.1% | 32.8% | 38.8% | 47.5% | 22.6% | | -11.5% | |
| Latest Twelve Months | -27.5% | 22.8% | 31.8% | 948.6% | 39.9% | | 492.8% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | -33.7% | 0.1% | -63.9% | -284.8% | 29.6% | | -4578.6% | |
| Prior Fiscal Year | -7.0% | 33.0% | -17.9% | -820.5% | 22.2% | | 629.0% | |
| Latest Fiscal Year | -21.2% | 26.7% | -10.2% | -65.9% | 20.3% | | -10.3% | |
| Latest Twelve Months | -29.3% | 26.7% | -10.2% | -65.9% | 20.3% | | -10.3% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 2.98x | 2.05x | 3.02x | 9.07x | 13.48x | | -0.29x | |
| EV / LTM EBIT | -10.2x | 7.7x | -29.6x | -13.8x | 66.5x | | 2.9x | |
| Price / LTM Sales | 0.13x | 2.60x | 2.86x | 10.26x | 14.37x | | 1.60x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 2.05x | 3.02x | 13.48x | | | | | |
| Historical EV / LTM Revenue | -0.29x | 1.48x | 947.67x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.53x | 0.56x | 0.58x | | | | | |
| (x) LTM Revenue | 11 | 11 | 11 | | | | | |
| (=) Implied Enterprise Value | 6 | 6 | 7 | | | | | |
| (-) Non-shareholder Claims * | 21 | 21 | 21 | | | | | |
| (=) Equity Value | 27 | 27 | 28 | | | | | |
| (/) Shares Outstanding | 5.4 | 5.4 | 5.4 | | | | | |
| Implied Value Range | 5.07 | 5.13 | 5.19 | | | | | |
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 5.07 | 5.13 | 5.19 | | 3.35 | | | |
| Upside / (Downside) | 51.5% | 53.3% | 55.0% | | | | | |