What's a good multiple - don't forget the warrantsBob,
don't forget that each of the 25m new shares has a warrant attached for another shares - so the total float will be the 60m shares currently in issue, the 13m warrants already in circulation, the 25m new shares and a further 25m of new warrants.
Of the warrants, the only ones that might not be exercised are the 13m currently in circulation because they have an exercise price of $1 or higher.
This might change your calculations somewhat - hence my request for an idea od absolute multiple so that I can do the maths myself!!!