Before guessing a price, we have to know if and when they will do a secondary. I don´t think they will do it now, because as they said in the conference call "We ended the quarter with $312 million of cash on the balance sheet. We are well capitalized to aggressively go after the large international opportunity Michael talked about and to continue to invest in next generation technologies to expand our leadership position in the aviation market" (Seeking Alpha call Transcript). Also,think about it, if this quarter was good, imagine what will be like next quarter, which includes the busiest travel season of the year. By that time, is possible for the pps to be at $ 40 or much more. So I think if they want to raise money it will be smart for them to do it when the price is above $ 40 than do it now. God Bless you.