k_w: One point that needs to be addressed in the give and take regarding SP is that many of the otc companies which have made substantial gains over the last ten years have 'no value', are emply shells that have been manipulated by fraudulent claims while IGEN has material value as a real company. (The ownership of shares by a highly respected BOD, including NGChan) says a lot about the consensus by board members who likely are in the know where shareholders are not. The few men Wells, Nealon, Friedman, Chan and Sierra are all highly accomplished in their fields and their presence on the board should not be underestimated.
We know that once the company is able to present real positive figures, the 'destruction' will change; but depending on certain news regarding a contract(s) or the patent could even bring earlier relief to shareholders.
It is possible that holders of large quantities of shares have the capacity to sell big blocks, thus negatively affecting price and may have done so.
Also, shareholders, board members and likely people serving in the very industries served by the patent recognize its value, thus the steady rising accumulation factor over two years. I believe that the DTS for the data it provides (as you have pointed out) is extremely valuable and to all the entities it affects (credit unions, insurance cos, govt agencies, auto manufacturers, and families) but the lack of meaningful marketing has kept it all known only to a few.
So, yes manipulation, poor maketing and the lack of positive cash flow together have brought us to this point, imo. (Im not going to address the viable reasons the aforementioned were largely unavoidable.)
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