Baloney- The reverse merge sub-penny PPS is irrelevant.
If JBI had IPO'd like a real company, instead of a stinky pinky reverse merger claptrap, then the PPS would have been valuated and set prior to public trading. Comparing the high-water mark of $7.00 set by JBII to a shell valued sub-penny PPS is so much blather, not to mention incredibly misleading.
Is it any wonder that FINRA is attempting to phase out reverse mergers?
http://www.securitieslawyer101.com/6490-reverse-merger/ There's no reason to think that at .40 the market is wise. We could be back to subpenny or $7.00 in the future, and the .40 mark told us nothing other than the markets, JBII included, aren't very efficient.