I think it's really hard to say. The stock value is still undervalued beyond belief. It was running above $2 in 2015, when supposedly, the next year the product was supposed to be commercialized. There are a lot of investor's that got burned, and a lot won't be coming back. Some might, but nothing like back then. So I think the investor's confidence still puts a lot of pressure on the PPS, perhaps even more than financing and dilution concerns.
If we could go back in time, taking away the lack of confidence, we probably would be at $3-4 right now, but there's the financing concerns now as well. The very positive note of the last week is that McNally is making great progress in restoring confidence, a more realistic time line, and a proven record of being able to manage financing. Still, I bet, we're still mostly dependent on organic growth from retail investors as far as PPS, and there's no such thing as "the market" out there as long as we are still on the OTC, apart from some traders with their hands in the pockets of retail investors.
The good news is that it looks like there might be a whole lot of new retail investors coming in over the next few months. And I think it could take us back to $1 despite the damage that has been done to investor's confidence in the past. It could go lot further, with some major news outlets starting to pay attention, and an uplisting. As of the coming week itself, I have no clue.
But, like Flenderson said, we're now "legit" with the recent news. That's a really big deal.