If we were to simply merge and do an equity swap t

If we were to simply merge and do an equity swap then I would agree. 1 dollar seems appropriate at a minimum. Unfortunately we have to buy them for 25 million. We can't raise the money at this share price. So either the price has to rise to at least 1, then we raise the money or we do a big RS then raise money. Since we are at .20 it seems like the RS first is the more likely outcome.