57,500 preferred shares sold, convertible into 264.5503 per share for a total of 15,211,642 shares in addition to the current 22,432,311 shares for a total of 37,643,953 shares out. Let's say they earn $80MM in CFO and spend $25MM in CFI. That's $55MM in FCF. Put a 5x on that and you get a $7.3 per share. If you put a 10x on that it's $14.61. If you raise the CFO to $90MM which was 2008, then you get $65MM in FCF then you get up to $17 in intrinsic value. Undervalued at $4.34? You be the judge.