Actually if you look at Note 11 thru 13 of the Q3 financial statements posted on SEDAR you will see that there are 288,082,303 shares issued and outstanding at that point in time.

Also there are 46,250,292 unexercised warrants outstanding along with 44,268,729 unexercised options outstanding.

All together this represents 378,601,324 shares assuming that all warrants and options are exercised before they expire.

So assuming $100M in revenue at a 6x multiple does calculate out to around $1.60/share but since this is such an assumption biased calculation I prefer to believe that higher valuations are attainable based on the greed of those with deep pockets and their obsession with having control over something that is supposedly disruptive.