Ann: Silicon Valley veteran joins RFN as Chief Operating Officer, page-29

So, 1PG's cash receipt actually went down to a paltry $75k with cash burn of almost $4 mil for the quarter and the market loves it ? They missed their promised target of 125 paying clients and 30 on annual contracts. They have changed their business model to " talent pool" curation instead.
The only positive thing is that their "bookings" have increased to $4.2 mil - what we call annualised revenue. If RFN reports the same "bookings" revenue we should do better than the $389k that was billed last quarter or $1.55 mil annualised as "bookings" seems to me to take into account the projected annualised revenues of all signed clients. So any clients that was signed during last quarter but not billed could be included in the "bookings". Yet RFN is at a mc of $43 mil against 1PG of $345 mil.
I feel like a mushroom.