Thanks Risky for the compliments. I agree with your analogy that many factors aside from fundamentals could come into play to boost the valuation north of my estimates. However, I know that I am accused of being biased, which is normal as iCo is amongst my largest holdings, therefore I try to state factual info.

As usual investors who do their diligence ahead of the herd are typically rewarded. Currently iCo is extremely undervalued trading at maximum 40 to 50% of its pre- result value, which is a function of some warrant holders from the latest financing exercising their 60 cent warrants in the 70's. This may keep a cap on the share price in the short-term as smart investors (such as anonymous) accumulate ahead of the upcoming resolutions. 

In the short term this may take a bit longer to clean, but once it does, I expect to see a run similar to BTI's last December/January.