Company GDD plans to acquire Company HGG, an unlisted company which has been in business for 3 years.

Company HGG has incurred losses in its first 3 years but is expected to become highly profitable in the near future

There are no listed companies in the country operating in the same business field as Company HGG The future success of Company HGG's business and hence the future growth rate in earnings and dividends is difficult to determine

Company GDD is assessing the validity of using the dividend growth method to value Company HGG

Which THREE of the following are weaknesses of using the dividend growth model to value an unlisted company such as Company HGG?