Your own calculations show that @1% of the network, Labcoin is worth .002 per share @ 50% APR.
What calculations would they be?
But, as you can see, the market does not value securities like that. They can only be valued based on what they are actually achieving, and in the case of Labcoin, they are underachieving and over promising. AM is the exact opposite.
It clearly does, otherwise you wouldn't be claiming they're overpriced and the shares would be selling for what you claim they're worth. What about before they started hashing? Were shares worth 0?
no, not a chance. They will be lucky to reach 1% by the end of the year. They have failed to meet any of their hashing goals, so I don't know why anyone would assume that they would meet a lofty goal like 5% of the network within a few months.
If they reach 1% by the beginning of Nov, they MIGHT be able to achieve 3% by the end of the year, but that's a big MIGHT.
They've stated that they plan on bringing 500 Th/s online by the end of the year. That is a valid possibility. If they did and they controlled 5% of the network, then the network hash rate would be 10 Ph/s. I think it's more likely that Labcoin will have 500 Th/s online than the network will be at 10 Ph/s by the end of the year. If the network was at 5 Ph/s then LC would need 250 Th/s. If they get their problems sorted and hit their targets they'll have around 200 Th/s in November.
That's their plan and it certainly a possibility, to claim otherwise is just silly. Sure there are risks, that's why the price is not more than 0.06 BTC/share already.