While your comments about Labcoin's behavior are correct, you're missing something here.

Did you make your own ASIC, or did you buy mining hardware from someone else?  (I already know the answer to this).  You're comparing apples to oranges.  Assuming we're not being lied to, Labcoin has intellectual property that has value.

Lastly, I don't understand how the market cap is so high for stocks like this.  I have as much hashing power as BASIC, but I paid 14 percent of the market cap.  I should apparently offload the ROI risk to everyone else and make more money in the process.