That is just the minimum value the company could issue at, and thinks its worth, shares can be traded under the par value between shareholders, that usually indicates extreme overselling, though.
Like begin said, there could be info that we don't know pushing it lower, or it could be way oversold. This one is a very high speculation play. I personally think it will start trending higher shortly, as they have started putting out PRs and we could probably see something significant happen soon. As it is the cap is so tiny now anything would drive it higher.
