There are 11.5 million shares outstanding. After the DA and S/H agreements are signed the company will be capatilized at $55M. By my calculations this will create a "book value" of $4.78. The company's financial model claims a net present value of $400M at that point, based on it's projections of potential income. This would be a value of about $35. The actual value will depend on the market. It will probably take some big buyers, like institutions, to really drive up the price.