Category	Low	High

Long-term bond rate	3.9%	4.4%
Equity market risk premium	4.6%	5.6%
Adjusted beta	1121.11	2708.37

Additional risk adjustments	0.0%	0.5%
Cost of equity	5161.0%	15171.7%

Tax rate	26.2%	27.0%
Debt/Equity ratio	9260.53	9260.53
Cost of debt	7.0%	7.0%

After-tax WACC	5.7%	6.7%


Selected WACC	6.2%

UNXLQ WACC - Detailed calculations of Beta

		Debt/Equity		Unlevered
Peers	Company Name	ratio	Beta	beta

UNXLQ	Uni-Pixel Inc	9260.53	144.23	0.02
BYL.TO	Baylin Technologies Inc	0.79	0.71	0.45
FTG.TO	Firan Technology Group Corp	0.12	1.01	0.93
KE	Kimball Electronics Inc	0.6	1.17	0.82
KTCC	Key Tronic Corp	3.83	0.52	0.14
NEON	Neonode Inc	0	1.83	1.83
NLST	Netlist Inc	0.01	0.17	0.17
NSYS	Nortech Systems Inc	0.37	0.17	0.13
RFIL	RF Industries Ltd	0.12	0.92	0.85
SGMA	SigmaTron International Inc	4.12	1.19	0.3
VSYS	Viscount Systems Inc	2938	-1.21	0

	Low	High

Unlevered beta	0.17	0.45
Relevered beta	1672.81	4041.85
Adjusted relevered beta	1121.11	2708.37

UNXLQ's CAPM model and how its cost of Equity is calculated

The Cost of Equity reflects the return a company needs to deliver to shareholders to justify the risk of investing in its shares. It’s computed using the Capital Asset Pricing Model (CAPM), which blends the risk-free rate, the stock’s beta, and the market risk premium.

This method evaluates the stock’s risk compared to a safe investment and the market’s overall volatility.

Here’s how we figure out the cost of equity for UNXLQ:

cost_of_equity (10,166.35%) = risk_free_rate (4.15%) + equity_risk_premium (5.10%) * adjusted_beta (1121.11) + risk_adjustments (0.25%)

We include the risk adjustments, which range from 0% to 1%, to keep our WACC conservatives, especially for companies traded in developing markets.