From Vectorvest:

Value is a measure of a stock's current worth. NOT has a current Value of $0.53 per share. Therefore, it is overvalued compared to its Price of $0.81 per share. Value is computed from forecasted earnings per share, forecasted earnings growth, profitability, interest, and inflation rates. Value increases when earnings, earnings growth rate and profitability increase, and when interest and inflation rates decrease.

When looking at how they determine value:

Forecasted earnings per share, forecasted earnings growth, profitability, interest, and inflation rates

It is easy to see their model has no bearing what so ever for Noront and anyone using vectovest for valuating Noront does so at their own peril. The fact that Vectorvest has even put out a report using those factors indicates they have no idea on how to assess this type of company and is probably used solely as a manipulation tool for the benefit of a third party. They belong in the same garbage can as RiskMetrics in my opinion.

Glorieux