Sure, but unless that valuation falls short of the strike price there're similar gains to existing share and option holders no?
In my mind, if the valuation is in the ballpark previously quoted of 20c+ and the current 3c is a reflection of an enormous risk adjustment (almost exclusively for finance risk) then the strike price is still very much in play assuming full funding is achieved for M1.
Sure, but unless that valuation falls short of the strike price...
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