A great analysis.
on the other hand if we think about mile stones and bottlenecks for the company I would suggest
1. Getting break even and I assume AVH will be break even by next year.
2. Making profits I assume from 25 onwards company will start making profits.
3. Opening up other markets like Europe, Japan, Australia etc.
The only bottleneck right now is company wants to sell 4 million shares for progress furthur. I would say those shares should be issued to present holders than getting sold in the market or to a fund. That will only destroy the share price in short term.
Hopefully company will provide us future plans and future guidance in due time.
SP if both FDA approvals go through, page-227
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