I would agree that IVFH is a bit undervalued. I believe it should trade between .45 and .65 based on what we know today.
Because we don't have public information on FD, we don't officially know what is happening there. You shareholders may think that now that it has been spun off, IVFH has no remaining liability. I believe you are wrong. In the event FD fails, I think there are still shoes left to fall.
That said, IVFH can probably afford to pay whatever penalties and legal fees it might have to pay after extensive negotiations. Again, this only happens if FD fails. I won't publicly speculate on FD's status other than to say that the meal plan business is a very difficult business to run profitably.
As for the current stock price, Sam has never done anything to promote the company stock price with the retail trade. He tells you nothing. He has never admitted his culpability in the FD debacle, yet his handpicked Board rewarded him for nearly bankrupting the company with another contract and more juicy stock options. Maybe now you know why this trades towards the lower end of the range and probably will for the next 6 months.
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