So GMC was trading at $65m before suspension... An equivalent...

So GMC was trading at $65m before suspension...

An equivalent market cap post capital raise means a price of 1.6 cents (fully diluted for options) or 2.7 cents undiluted (my estimate only, DYOR).

So the question is: is the company in a better or worse position from December 2016 when it last traded at 4.2 cents (ie $65m)?

If you believe worse position, then arguably it should trade below 1.6 cents, if you believe better position, then arguably it should trade above 1.6 cents