a lot of people try to bash this stock by trying to analyze its market value but the reason you would buy this is based on speculation that its brand will grow and will eventually make money.
Every time this comes up in MMA cirlces people try to show their investing prowess by saying "oh their market cap is low" or some other nonsense....obivously they are not profitable now, any person on the street could tell you that. That doesnt mean they wont be one day.
All these people bashing this stock would be the ones who would have hypothetically said NFL stock in the 1920's was bad (if it existed) or would have laughed if WWF went public in 1979 or something before they sold out the Silverdome in the mid 80's. Not saying IFL will be like that but they are like a biotech company with no assets - that doesnt mean that the stock wont be good if everything breaks the right way.
MMA is blowing up, IFL just had the first network MMA show ever, they are being pushed by FOX, have shows around the country (UFC doesnt yet) and have major sponsors. Just because you can pick apart their balance sheet now doesnt mean the stock wont ever go up. I bet it gets over 20 bucks one way or another before it either fizzles out or flourishes.