Jufel, your calculations are based on rational thinking.
We all know that a PPS is often irrational.
That's where Fence's suggestion that a Forward Split could be implemented at some point is starting to make more and more sense here ..........
Can you imagine if Mr Thompson would be able (at some point) to offer shares to someone, and that someone would see a potential Forward Split? because the company ALREADY does have revenue with such a low O/S ?