It's a ballpark number, like most. I figured you have to have something to work with to do a viable estimate. We are at 237M now. We need to raise about $65M more to completion, and assuming (yes, I know what happens when you assume...)there is some growth in PPS in the meantime, about another 100M shares (including warrants, etc.) gave numbers that I felt would be within an order of magnitude. Some of our later fundraising could occur at a buck or two per share next year, who knows... Feel free to plug in your own numbers; if 400M or 500M outstanding seems more reasonable to you, you are looking at either $7.50 per share or $6 per share, respectively, assuming you buy into the other background figures.
I've always said they were estimates, and I would actually like to hear from others if they think these numbers sound reasonable, or what adjustments each of you might make to the numbers to model your belief in the future of this stock! Maybe I'll slap together a quick math model (text version of a spreadsheet) for folks to plug numbers into, and see how our opinions compare! Give me a few minutes here and I'll try to get something together!
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