Correct but the heads aren't at 14c are they?I am comparing an...

Correct but the heads aren't at 14c are they?

I am comparing an investment in TMZOA to the same money going into TMZ NOW.
TMZOA at 2.5c now are already valuing TMZ at 14c. (when they are only 7c.)

Buy TMZ at now 7c means your investment will double when they hit 14c.
Buy TMZOA now at 2.5c, you still have to put in another 11.5c to convert them. Meaning you still haven't made any money.

So TMZOA real value should remain at 2.5c even when the heads are at 14c.