| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| STRC.X | AVCN | ZYUS | GSD | CPTR | | APLI | |
| CNSX:STRC.X | TSX:AVCN | TSXV:ZYUS | TSXV:GSD | CNSX:CPTR | | TSX:APLI | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | NM- | 172.9% | NM- | 34.8% | 44.4% | | NM- | |
| 3Y CAGR | NM- | 98.2% | NM- | 129.5% | 31.4% | | NM- | |
| Latest Twelve Months | -26.6% | 51.6% | 37.4% | 582.8% | -71.9% | | -89.2% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | -625.3% | -1419.7% | -5642.3% | -565.6% | -24.7% | | -2347.7% | |
| Prior Fiscal Year | -168.4% | -49.9% | -5604.4% | -184.4% | -18.9% | | -2368.3% | |
| Latest Fiscal Year | -61.2% | -18.4% | -5519.4% | -4.8% | -0.5% | | -972.9% | |
| Latest Twelve Months | -53.2% | -18.4% | -4182.5% | -3.5% | -14.4% | | -7990.5% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 3.66x | 1.30x | 141.83x | 0.74x | -0.92x | | 118.13x | |
| EV / LTM EBIT | -6.9x | -5.2x | -3.4x | -30.4x | 6.4x | | -1.5x | |
| Price / LTM Sales | 3.25x | 1.02x | 125.03x | 1.19x | 0.21x | | 29.16x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | -0.92x | 1.30x | 141.83x | | | | | |
| Historical EV / LTM Revenue | 1.57x | 10.13x | 151.31x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 101.86x | 107.22x | 112.58x | | | | | |
| (x) LTM Revenue | 0 | 0 | 0 | | | | | |
| (=) Implied Enterprise Value | 13 | 13 | 14 | | | | | |
| (-) Non-shareholder Claims * | (11) | (11) | (11) | | | | | |
| (=) Equity Value | 2 | 2 | 3 | | | | | |
| (/) Shares Outstanding | 121.3 | 121.3 | 121.3 | | | | | |
| Implied Value Range | 0.01 | 0.02 | 0.02 | | | | | |
| FX Rate: CAD/CAD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 0.01 | 0.02 | 0.02 | | 0.03 | | | |
| Upside / (Downside) | -55.8% | -37.4% | -19.0% | | | | | |