Do not take into account the OS because Management holds 72% restricted. They will not sell because they do not wanna lose control of the company. They also do not wanna go below 71% so if any whales try to take a massive position they can stop anyone from forcing their way onto the BOD!
So figure your evaluation off of the current float.
Also remember Q2,Q3 was basically a management cleaning up the balance sheet during the quiet summer Months. Imo we see a Massive Jump in Revs in Q4 and Monstrous Jump in Q1 of 2016
I cannot put a valuation on this company because we are entering hyper growth with basically no liabilities and almost 100% debt free. We are in such a sweet spot at the current share price anyone selling right now is going to miss out on massive gains. Friday's Mepex deal with Hoqool just unlocked massive exposure.
We are a Big Board stock in the Making. I'll set the valuation currently at .50 and go from there.