Stock prices basically move on supply and demand. If there is an endless supply of shares entering the float and extremely low demand, the price will naturally head downward. If these guys would ever stop diluting, the price could recover but they've been doing this same dilute r/s crap for years. So, the best you can ever hope for here is a short bounce before it heads even lower.
You're trying to calculate a marketcap based on a share structure after the last r/s. Of course, that makes the company look very cheap. Now, take into account all the r/s done:
Symbol Split Ratio Date
PCOR 1:1000 R/S 02/25/2005
PCCL 1:100 R/S 09/13/2004
PACC 1:100 R/S 02/25/2004
PCEL 1:30 R/S 03/17/2003
PLRP 1:100 R/S 04/07/2002
PLRPD 1:4 R/S 10/07/1999
1000 x 100 x 100 x 30 x 100 x 4 = 120 billion
One share at .005 today is actually equivalent to 120 billion shares valued at $600M pre-Oct 1999. Ten million today would be equivalent to 1.2 quintillion shares valued at $6 quadrillion. When you account for all those r/s, the company no longer looks cheap at all does it?
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-- Warren Buffett
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