Market cap is a bit higher fully diluted.
However, it's really WBT's cap that needs watching. NXR owns 30% of this tech so WBT is currently valued at around $35m. WBT could be anywhere between $50m and $100m in the next month or so.
I think the options will get converted and NXR will move to 51% which will time well talking to larger players like a Samsung.
But even after the option conversion cash on hand is roughly $750k or more like $500k in January. Surely they will raise cash if this goes a bit higher. But MNW ran like mad from 10 cents once they raised some serious cash. I think this would as well with the right broker behind and a good raising which will pave way for proper development funding and marketing.
Option conversion + another cap raising + moving to 51% and then I think this will really run.
Watch their travel schedule come February.
Always good to keep a cool head and one thing that is less bullish is the size or the iris security market, if the following article is correct
"The global market for iris biometrics is projected to reach $1.5 billion by the year 2018,"
http://findbiometrics.com/biometrics-market-research-updates-from-global-information/