What?
(10 to 1 RS) would range between $15 and $50
Heck... based on this premise you are predicting a range of $1.50 to $5.0 which is ...
First off you can nix the warrants. Too many problems associated with them. The gov't is going to have to concede them in some fashion. like, allow the companies to purchase them for near nothing. They can't exist and raise capital and the entities have to be out of conservatorship *no one will trust the gov't" and at that if the gov't don't come clean there will be limitations to their ability to raise money anyway... who wants to deal with a shark? Not my money. They are going to have own up to the treachery which is why they aren't fighting SCotus.
Next, completely ingnore the fact that treasury has recoverd maybe 100 Billion more then it should have ( this includes interest on the overpayments at their 10% interest rate)
So, if they need 150 Billion more in capital. They earn $10 a share (currently) at a PE of 12 would have $120 share price so they'd need to sell what 1.2Billion shares? So. now you have $250-$300Billion equity and a market cap of $360 Billion ...
So how do you possibly get a max of $5 when its easily $100+?
Problem here is all the govrnment risk associated with the stock is keep the price down, today. Remove the government and this thing is easily marketable. Government has royally screwed up. They know it but can't or won't admit it.