I am not sure if I understand your assumptions correctly. There is no market for FVR stock pre se. The trading volume is tiny. If the current controlling investors, including Jaso Bak, etc. are so bullish about the valuation, why are they not putting buy orders at 25c in a massive way to get the minority shareholders out?? Since the deal is done there is not trading ristrictions on these guys. Clearly they are aware of the risks much better then you and I. Therefore, the risk adjustment, for a prudent investor, should be no more than 20 to 30% (corresponding to a cost of money of around 20% for the term of potential cash income) for this kind of management and uncertainty. It is not clear to me that you are assuming enough for the legal liabilities - they may be entirely unreasobable - and there is no assumption for the overheads going forward.
At this stage, in the absence of any direction of the company, I would not suggest a share price more then nominal, 5c-15c.