The market cap is around where just should be. BP bought in at...

The market cap is around where just should be. BP bought in at $2.40 injecting a good amount of capital into the company but most of that is spent now so $1.90 to $2.10 range looks about right pre OEM deal.

The market cap of ~$200M (about $6 SP) was not based on solid fundamental news so can't be used as an accurate yard stick for where the company should be at. I expect a lot of people got burned buying in the +$5 range so even with some good news SP is going to meet with some heavy selling pressure on the way up, but the low SOI could counter that.