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The 30c P1 valuation could not have included any projected Chinese revenue.
So it will be very interesting to see what price P1 lists at. By then P1 should have cornerstone investors on board under-pinning the valuation. There will be loose hands that will just take what they can get on listing pushing the price down. That will be balanced by cautious wait and see investors wanting to get on board as the entity proves itself by fulfilling promise. Depending how much progress they have made on the Chinese deals that will begin to be priced in.

So as unlikely to me as this seems, P1 may even list higher than the valuation.
This would have an immediate knock-on affect to GCN SP. Firstly because another milestone will have been achieved and all the initiatives hanging on that outcome may progress. And secondly GCN's value should be a multiple of P1 as they will have the same revenue stream as P1, plus leverageable access to all those loyalty members who will be drawn to GCN content to gain the benefits of the debit cards. The numbers P1 are talking about are targetable advertising revenue for GCN. Because of the hub like status of TV in the home for every vested interest card-holder an additional 2 or 3 viewers will be exposed to GCN content. This is the numbers game Peter Stafford talks about.
This is the numbers game that made Groupon a record breaking IPO.
But the magic is how well you play the numbers game.
For instance this post may get the same number of views as Angry's post, but if it does not appeal to the viewers it may not even get one thumbs up.

So now that they look like they will get the numbers GCN need to rustle up some more content than the Dragon's of Truth, Englebert, a Bollywood library and a Life Be In It animation.