Be fair ManAboutTown the Frost and Sullivan report was not paid for as far as I am aware. Certainly there are no caveats on the report indicating it was a paid report and they came up with a similar valuation of $3.90 a share. There is value in the company if they are unable to find a customer in the near future then as you say they will look to get acquired. The issue is mainly a very large number of retail investors that do not understand the long timelines in tech.
Long term the tech will generate revenue whether they do it themselves or they are acquired.
Weebit - 2021and beyond, page-7575
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