Well, sure, isn't that the case for all shares in a stock market, too?
Normally, the stock of a company is in the same ballpark as the sum of assets of that company (material assets, brand assets, personnel assets, realistic market outlook). If a stock is not in that ballpark, red flashlights should start flickering.
Of course, there's a speculative part about this: it is the expectation of near future assets of that company. But that is exactly part of the intangible assets of the company: projected new sales and so on, on some more or less realistic business plans.
If the sum of shares invested in a guy with a desk in his basement is, say, $20 million, you better make sure that the guy has a business plan that will, to all likelihood, bring the value of the marketable assets of that business soon to $20 million. Of course his desk may be only worth $100,- which is the only tangible asset of his "company", but his business plan should be solid enough to make a near future income bringing his company to $20 million of real stuff, credible.
