investors have clearly already priced in the deleterious crypto/NFT market: haven't you noticed that ICI's MC is now $75m @ $0.056, but the company presently has about $23m cash & around 30m FPO shares (SBB related) that will be cancelled next quarter. therefore, ICI's EV is currently only $50m!
$50m! this is paltry given ICI's quarterly revenue is stable around $9-10m (we'll have Q4 results within a few days to confirm) & annualised NPAT (based on H1 & Q3 results) should fall within the range of $2m to $4m.
i'm not cherry picking anything & i have no "preconceptions" - your first 6 charts are for Q3, 4 months old, & was published 17 October 2022. Q4's NFT Market Report (which is actually an impartial, analytical source) should be out any day, & the author's summary of Q3 is taking shape; they're not saying the crypto/NFT market has bottomed & neither am i; i don't interpret that conclusion from the quote:
"The NFT Market is stabilizing, thanks to solid and engaged communities with a healthy trading behavior. Usefulness of tokens now seems to take precedence over the notion of financial investment. The first era of NFTs where profit and speculation reigned supreme seems over, and gradually a new page in the history of this technology is being written under the mainstream radar. The next boom is beginning to take shape. There is still time to prepare for it, but get ready because this wave will most likely be even more explosive and impactful than the era of “NFT Collectibles”."
you did get this right: that i'm bullish & optimistic, but for good reason:
whether this is the bottom or not, no-one knows that, but at least as evidenced by the MC of the whole crypto market for the last 3 months & BTC's performance in the last 1 month, it's bouncing higher. & the number of early adopters' interest in utility/gaming NFTs is increasing (the previous data showed that):
we also know that gamers will flock to quality games;
LSS & the iCandy Group are developing at least three quality games: Metal Genesis, AnotherVerse & Quantum ArkQA:
according to KWL, "anyone can easily start by logging in[to these games] from Google, Facebook, etc., basic play is free, NFTs can be purchased as an option if you want, ... we'll see seamless games where the average user won't even be able to tell if it's a Web2 game or a Web3 game."
i'm betting the above culminates in ICI re-rating +100 to 200%, within ~6-9 months, as investors continue to receive updates & reports showing our base revenue is $9-10m~ with $1m~ surplus cash flow from operations per quarter, from the current businesses, without launching a new game(s).
the upcoming games look AAA/near-AAA to me, & those above links are mostly from about 7-12 months old concept/pre-alpha presentations.
no need to debate minutiae; the big picture is what i'm focusing on:
ICI is a company with $50m EV earning $9-10m~ revenue with $1m~ CFP per quarter, & launching between 8 to 14 owned games (3 or 4 Web3 games in various stages of pilot or public beta & 5 to 10 casual/mobile games) within around the next 12 months, ICI looks extremely undervalued:
