You must realize that when this stock reaches a little higher level,and the shorts get involved,and get squeezed,the stock does not have to have the valuation you are saying,for it to go to very high levels.
Valuation most of the time means nothing in penny land. I've seen companies here with $0 revenue and in debt go to $5-6 a share and companies with 4-6 million dollars with a market cap valued at less then a million. Noone knows what PPS this will reach but anything can happen.