Another way to look at it is to look at the enterprise value of the stock now vs Feb 22 when it relisted.
In Feb 22 it had a market cap of $45 mill with $10 mill in cash (EV $35 mill). Today, the current market cap is $66.5 mill with $30 mill in cash (EV $36.5 mill).
Probably tells you more about what the overall appetite for risk investment is generally, than it does about the company per se.
Cavendish Research, page-48
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