We all know that the market is not seduced by crappy pictures of Moran shaking hands or hanging out with VIP's. The pps reflects market confidence in this POS and Moran's lies and his utter failure to perform the most basic of business tasks - complete financials and communicate with shareholders. You can only float the line "financials and big news coming soon" so many times before it becomes a joke.
It's all a giant house of cards that will eventually tumble. The market is well aware of this reality.