RE: Valuation The really strange (great) thing is how there hasn't been *any* bad news. There have been delays, but they have been for fantastic reasons (IMC instead of KZ backing, moving to a chinese lab to get higher recovery). I mean, with this many moving parts, management must be doing an absolutely brilliant job all around.
The closest thing we've had to bad news was that insider sale that ended up being reversed. And even then, as Majormac79 has pointed out, we should be expecting a sale in the near future, anyway, so that still wouldn't be bad news!
Warren Buffett is known to say "there's never just one cockroach", meaning when you notice a serious problem in a company, you can be sure there are other serious problems you just haven't seen yet.
But I think the reverse is also true! If there are cockroaches present, you'll always see at least one. I've been searching for them, but I still haven't found any. I'm going to keep looking, but this kitchen looks spotless so far. Kudos!