peak is due for a re-rate, page-3

You alluded to the elephant in the room in your post: funding and customers. Right now, both are open questions. Funding, especially, is something that the company needs to take a long hard look at; the last CR was abominable, and a repeat could destroy shareholder value significantly. Customers ... well, we should be at advanced negotiations now; what will come out of it remains to be seen.

I'm a little reluctant to throw much more of my hard earned into the PEK basket, but we'll see what happens early next year.