Quite the opposite actually. The last report was issued 26th February at a pps of $0.35. After publication, the stock shot up to $0.55 and later to $0.60 before the downtrend to current levels began.
If the guy now comes up with a target price equal to the current stock price (what's the point of that anyway?), he basically says that all dilutive effects are already priced.
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