Sure, but it's all relative CP.
To your logic with a random date in the past
based on a holder owning say 140,000 shares:
31/05/2022=SP $1.11 this gives a holding of $155,400
01/03/2022=SP $0.69 this gives a holding of $96,600
subtract 96,600 from 155,400 and you end up with $85,500, based on that, you will also have 100,000 shares in LLL, those shares need to open at $0.85 to break even....
Your logic is flawed.