You can make numbers do what you want.....but I look at 25.2M common shares plus 4.5M options plus 7.5M as-converted preferred for a total share count of about 37.2M which at 3.20 is a real market cap of about $120M (rounding a bit). Adding the options and the preferred really skills the common PPS in a buyout at $200M which would be less than a double from here.
The options and preferred were anti-dilutive so they weren't in the fully diluted number in the 3/31 10Q but would not be so if a buyout or if the share price increases.
That said, I fully expect EMAN to do very well and believe that whether it is an $80M market cap or $120M market cap is kind of like splitting hairs when you consider the potential...
This is where I disagree. I take feedback said directly to the eMagin team with a grain of salt. Tech guys might be "blown away" by it but the reality is consumers may not be willing to pay a premium for the iHMD over others. To a layman, all the VR/AR technology is amazing stuff. I'm willing to pay a premium for extra battery life and higher quality.....but there is a limit to the premium I'm willing to pay.
Don't get me wrong. I'm as bullish as anyone on this board (with call options to prove it) but I still remember the feedback on blogs about the z800 that gamers were having trouble getting it to work right....and had to call customer service to get it fixed. I'm anxious for any feedback at all that validates what eMagin has been saying for six months.
I thought they were going to be demonstrating the iHMD in Q1....looks like that timeline has passed and they are still "completing" it. eMagin is either insanely cheap right now or they have a lot of work left to do on the iHMD (which we know they have trouble executing at times). I'm betting they are cheap... and hope the new hire can light a fire under the PR/Marketing team...
I'm a bit embarrassed to ask but is the 4k resolution noted below in the Nvidia's HMD the same as eMagin's resolution in the I-HMD pre-release from months ago???
Nvidia VR to be released tomorrow:
VRFocus understands that the HMD, which may be named Titan VR, will integrate the company’s latest and most advanced mobile processor, which was announced at the 2015 Consumer Electronics Show (CES) in January. The chip consists of the NVIDIA Maxwell 256-core GPU as well as an 8 CPU-core, 64-bit ARM CPU that makes it something of a powerhouse for running mobile experiences. It also allows for 4K video playback. Obviously the HMD itself would need a display capable showing 4K resolutions for this to have any impact on the device.
The first prototype is expected to be completed at the end of 2014 and will have a resolution of 4MP/eye, nearly 4 times that of other VR HMDs. The company believes there are a wide range of VR applications for this IHMD, ranging from gaming, medical, architecture, and 3D design, to education and military training & simulation. This first product will target the high-end gaming market.