I believe most of the market shares your sentiment of trading Bravada on past results. I do not believe the Q4 projections are factored in to the current PPS. If the projections fall short (I do not believe they will) and there is still a %100-%200 increase in revenue, the market will still correct the PPS to the increase in revenue even if projections are not met. I believe the projections will be met and/or exceeded that is why I buy many shares now so that I am not chasing the PPS when the market can read the Q4 on paper. Seemingly easier for me to accumulate at these levels then where I foresee the PPS being if/when Bravada turns in another record Quarter of sales with possibility of profit (I believe they will). Dilution for expansion is acceptable to me as long as the "free cash flow" is also reinvested to the company. IMO