ICI valuation with today's share price of 6.3 cents with market caps $83M looks quite ridiculous when we look at its revenue, cash reserve and its quarterly revenue of about $9 M (about $36M annually) and is cash positive. With all games in pipe line and its acquisition of Lemon Sky Studio ($44M)fully completed in current quarter the current share price seems significantly undervalued.
I feel like there is a lot of manipulation is going on to buy shares at cheap price as far as possible, particularly when share buy back (SBB) is still active. The ICI was buying these shares from 11 cents and now currently trading almost half the value since SBB was activated. I suggest ICI should actively start buy back again.
ICI Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
