Koo....the reason our MC is under $200 million USD imo is (at least partly) due to the risk that the company may not be able to secure financing.  I am proposing that if they're able to eliminate that risk by securing financing, the the Market Capitalization would increase to somewhere around $500 million USD....and hopefully more.  Why?  Because a major risk factor would have either been eliminated totally or partially depending on how much money is raised.

Ultimately its MC that matters....the number of o/s multipled by the PPS.

So let's look at the scenario I pulled outta my nether regions.

Via either a PP or a secondary the company raises $150 million by issuing 75 million shares priced around $2 CDN.  I chose that number because it would allow them to satisfy the Citi-Bank loan and leave them enough $$$ to get to the end of BETonMACE imo.  

In this hypothetical scenario the risk of securing needed financing is obvioulsy eliminated for the foreseeable term, and the overhang from the loan as well.  Its my contention that this "de-risking" would cause the market cap (or valuation) to climb to somewhere around $500 million USD, or over $600 milllion CDN depending on exchange rates.

Of course the share count instead of being about 125 million fully diluted....it would climb to around 200 million shares....so do the math.  $600 million CDN divided by 200 million shares = a PPS or around $3

Then we'd be waiting on the futility analysis, and if that's positive I see that further de-risking this investment...which I believe could see that MC getting up to in and around $1 billion USD.

Clear as mud?