Please understand the starting SP has nothing to do with revenue or lack thereof.
And although the company has been kicking plenty of goals, that too is completely irrelevant.
The only two factors that are at play, as @bavarian1975 and I have been trying to emphasise, are
- the starting price range dictated by the NASDAQ
- the market cap
The market cap does not change: it will debut on the NASDAQ at whatever level it has been trading at in the days/weeks prior to the direct listing. This is not like an IPO where the company is valuing itself and asking the public to buy into it at that self-evaluated price. As others have stated, 8$ on the NASDAQ is not going to cause any raised eyebrows. Take a look at some other comparable companies listed on the NASDAQ.
Given these facts, there is no call for considering the company is 'asking' for anything. They are merely applying a nice round factor of 100 to place their NASDAQ shares squarely within not only the required starting share price range, but at a level they have received expert advice on to suit the company's assets, position and current trajectory. To say their plan is 'asking' too much is tantamount to saying you believe the current market cap is overvalued... which I doubt you believe considering you are a holder.
Keep in mind as an aside that between now and listing, that multiplier may well change if the share price moves significantly during that time.
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Please understand the starting SP has nothing to do with revenue...
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