All fair points. What I will say is that the ceiling for a reasonable PPS is lowered with each share added to the float; and with each share added to the AS. Share structure is sometimes considered in mere passing here, or not at all. If we're talking about mortality of the company, BLUM is a good dealing. If we're talking about the prospective PPS ceiling - it was significantly lowered by the BLUM deal. Peeps expecting dollars with the current share obligations are fooling themselves.
Notwithstanding the above, irrational exuberance, should it materialize later this year, could significantly raise that ceiling.
JMO
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