Since we can't know what the terms of private investors stake in SRE Power were before Reggie took the company public to where they stand with relation to being in a favorable position, granting them shares at $.10 is reasonable. They have to hold those shares for 1 year and they're probably confident that after that time is up they'll be worth more than that.
But him stating that anyone, accredited investors, no less, would pay $.25 a share is not reasonable. I worry that he would say that without an explanation that either makes sense because there's more to it, or he misspoke.
And not getting a reply to my questions regarding the revenues reported is bothersome to me.
You can lead a horse to water. But you can't make him get down on one knee and do an Al Jolson impression!