Titan Medical Inc (TMDIF)

[Geo2014]

Your formula is flawed. The market cap value of the company does not change with a RS. So if the price per share of Titan reaches $7 pre-RS (At 500 mil shares OS the market cap = $3.5 bil) , after a 15:1 RS the pps of Titan is $105 (still $3.5 bil).

If the OS count pre-RS is 500,000,000 then after a 15:1 RS it will be 33,333,333.33.

500,000,000 x 7 = $3.5 bil
33,333,333.33 x 105 = $3.5 bil

Your formula isn't adjusting the $7 pps to $105 pps after the RS.