Don't forget the 15 mln warrants coming up as long as the stock closes above 2.5 in 20 consecutive days!
My calculations are the same as yours. This stock is like my Siberian Husky..........she can run like the wind but once she runs in the wrong direction.........she is subject to getting "run over".
I'm no expert but if I had warrants I paid a buck for and had a chance to sell at 5x, 6x or more...........I'd sell.
I suspect this stock still has room to run for at least the rest of the week which if it stays above $2.50 would means 13 consecutive days. Then look for momentum to build as us "little people" sell into the anticipated event of warrants being exercised.
That being said, I would wait until the stock "bottoms out" and then buy it again. The potential for this company is staggering but there is much they have to do to "clean up" their balance sheet. They are doing this.......slowly but surely.
Just my opinion................