I think what many don’t realize is that the RS will need to go beyond $4 target. If he is doing this the way I think he is the RS will come before they price the offering. The offering will be at a discount so he may need to target $7-$8 per share post RS to account for some price erosion until Effectiveness of the S-1 as well as the discount that will need to be built in and will affect the pps in the open market...it will track to the offering.
He has left himself some room at 1:40...but not a lot. If the current pps dips below $0.20 it could be a problem.
News 
Market Data 
Discover 
AI
