I am thinking .10 too for now, as long as the shareholder meeting does not contain any unpleasant surprises (we aren't expecting anything like that, but that is why they are called 'surprises')
The way I see it, this was trading between .70-$1 for well over a year before the "Travelgate" scandal occurred, which almost put them out of business. The election of a new board to replace the old disgraced one and the acquistion of financing sufficient to resume clinical trials is all that is needed to bring things back to "business as usual" for the first time in well over a year. Both will have been achieved at the end of the month.
There has been dilution to the tune of about 40% since early 2016, so if we apply that to the old share valuation, we get a pps between .42 and .60.
My sense is that the new team is in a do-or-die mindset. They are heavily invested, underwater, and they need those trials to continue. I expect that they will work with a lot more focus and vigor than the old crew did. They haven't been wasting time; as soon as they were delisted, they got busy fixing the damage. So the company ought to be better this year than it was when it traded at .70-$1.
So, .42-.60 seems reasonable to me. Insofar as there are legitimate doubts remaining, depressing the stock price, let's halve it and shoot for .21-.30. Even that would make a lot of shareholders very happy indeed.
