"After I put it all together and stir the pot I come up with “my” valuation of $2 to $5 billion today as a Phase I company that has just started the combination part of their Phase I trial...."

No chance of that. The last financing was for $1 US.  It was only a month prior to first dosing in the Phase I study.  Watch the price in the next financing.  I'll be astonished if it is over $2.