A few things in mind...
When I first heard about the deal with DOCC, all I thought was 'This sucks!' Not really because of the deal itself but the timing. It couldn't get any worse. The SP was driven down to around .40 (.08 Post-split). Blame whatever you want, whether shorts or nervous investors or bandwagon jumpers or penny-flippers, SP of .40 and MC of not even 30M was the reality at the time.
People think they got a bad deal but it couldn't be any better. They were racing against time to come up with the money to make good on their deal with Houweling and get the retrofit going. They needed to come out of that room without being taken over or losing much of the shirt.
With all considered, I think they did pretty good. Of course it can be better but only if DOCC people are stupid. They were not going to buy PUF shares at 2.25 (.45 Post-split) and spend 40M, which was like 150% of PUF's MC, and got little out of the deal. Also lock in DOCC's PUF shares if they want that 10% for being PUF ownership of those shares? If doing the traditional PP and buy in at around the SP, DOCC would hold over 60% of PUF shares and 30% of PSC, not just 20% PUF shares and 20% of PSC. Another option would be takeover like some hoped for, umm, no thanks. I bet if one of the big guys paid 1.00 (.20 Post-split) for PUF shares and convert to their shares, many PUF shareholders would be all over it. Sounds nice to have their shares but looking at their PE ratio now, nah. Sure, having this under them will make their SP jumps, no question, but will only balloon their PE ratio even more. When starting to generate revenue, will only narrow their already ballooned PE ratio.
It will take years for the big guys and many mid ones to get down to PE of 1. Okay, just kidding. Will never happen for most unless their revenues go up like mad or SP is coming down quite a bit. And then you have PUF trying to get up to PE of 1. Forget about all the other complicated calculations of DOCC's shares, etc. All I know is PUF's 30% of PSC will yield at least 300M annually when fully operational. That's only if they decide to keep it at low $4.00/g. Yeah, I'm crazy to take PUF shares over shares of most of the rest, even the big guys. I play the ROI. It will catch up sooner or later. Sooner... slower, later... quicker. Just hope no takeover please!
And I'm not worried about it being slow out of the gate. Many are still slow to take advantage of the legalization, even though they're already out of the gate.
They have more in their arsenal but will see if they materialize. Not going to speculate until there's more to them. Up next, see if they can close any EU deal(s).