Undervalued based on what metric exactly? Hope? Enthusiasm?...

Undervalued based on what metric exactly? Hope? Enthusiasm? Aspiration?

The reality is - and as mentioned elsewhere - this has additional (significant) dilution ahead unless they can pull a large rabbit out of a very small hat. So why would anyone be that eager to buy stock now, when the odds of it being cheaper later on are in your favour. Same goes for anyone who wanted to take over the company - just wait for it to effectively dilute itself into oblivion or go bust trying.