Davidal, In trying to estimate a potential share price target, we have to also figure in the dilution needed to raise the required money. The current outstanding share count is approx 144 mil shares, but there are now over a billion shares authorized and available for a financing (I'll have to check, but I think it's in the 1.5 billion share range). If a financing was priced at .05 cents/share, it would require 100 mil new shares for every $5 mil raised, so the total outstanding share count would reach 1/2 billion shares after raising $18 mil, and there would likely be an equal number of warrants issued.
So a .50 cent/share pps would thus translate into a $250 mil market cap, so not too likely. But that said, the company at least appears to be heading in the right direction.
Once they raised the authorized shares to over 1 Bil, I began to assume that the eventual recapitalization of the company would involve a reverse split, which is not unusual for a penny stock whose share count has ballooned to the billion mark. On the other hand, they might conceivably find a partner or some other less dilutive way to raise funds.
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