xmagx,greetings.yes it's really only Market Cap BUT there is...

xmagx,
greetings.yes it's really only Market Cap BUT there is Perception that is improved by a Company being taken out of the Penny Class Swamp.
This HMC has too huge a Shares on Issue.When it runs at 20 cents>,it CAN be come highly attractive to Arbitrage.A single .05 tick or a one cent rise can activate Selling by THEY[d'dreaded Day Boys]picking up their Grand a Day.Such Activity increases the Sell in Suppy and Demand ergo Kills It!

I feel this makes a share UnAttractive to "Proper Type" investors and while the same thing can happen to a S1 share,there seems to be a perception that a Buck$ share,especially that pays any dividend,is a "Better" More Worthwhile speculation in the "Emerging Industry" class than a penny punt.
ie The punter/pilgrim holding a $1 ish HMC gets more cred at BarBques!!
cheers.
ps-tell me more about any Family Holdings,Substantial Holders etc.