Interesting comment by Raj in this video. He's talking about two years ago when he started as CEO revenue was $14 million/year and company was declaring losses and as Raj says, the share price was higher than it is now despite annual revenue currently at ~$44 million and ELVA making a profit.
Clearly he is as frustrated as the rest of us with the lack of recognition.
Personally, I am assuming that the market is waiting for the Jamestown funding situation to get resolved before jumping in.