For my own valuation I _assume_ 80mln shares. I think the decline we have seen was caused by selling these additional 20mln shares into the market. That's the easiest explaination for the decline. And it fits to their business plan, that they need money to invest in product rollouts and sales at this point. I know dilution is of course a much hated thing, but on the other hand, that's why they are on the stock market. And they are by far not endlessly producing new shares. Even 80mln is a very low number for a pinkie and they achieved already a lot with the money!
With 80mln shares they have a market cap of just $800.000, that's probably at the low end of all possibilities. So I sit here and wait till selling stops...should go up very fast then!