Lots of micro cap stocks have a valuation of between 10-199...

Lots of micro cap stocks have a valuation of between 10-199 million. Small cap have valuations of between 200 and 500 million
Lots of micro cap companies are not generating revenue.
The part i don't get is how people use MC to justify a company in terms of revenue or potential revenue. I don't think it has anything to do with it. A2M has a market cap of 5.3 billion.

MC is used to determine the value of a company share in comparison to others.
So to say QBL is not worth 100 million but 15 million is scewed.
QBL has had its current spike based on tangible future revenues for the company.
So hitting 1 billion MC with revenue is not unreasonable in the future.
Yes shares are diluted, meaning when the company stocks go up, they may hit $1 instead of $5 due to so many shares on offer