I would argue that you don't understand how the capital markets works in this type of security. There are allot of capital working with restraints and in this case not only formal. No one wants to be the first to invest formally. If you have a bunch of first tears going for the stock you do not risk your reputation. The big money prefers to make the journey from 5- 10 dollars than from .5 to 5.
Will the market believe the contract? I know most current shareholders will, but not sure it will draw new investors like it should, at least at first. Healthy dividend without dilution would change that.