Ann: July 2023 Investor Presentation, page-45

You know this was predicted and reasons given in advance right? This was not some special insight - it was obvious and predictable from the comments on this thread. I hope people can learn from it.

People are still focused on a wild guess of what the sales might be in five years times and a big contract (which rightly drove the share price). All the focus is on the positives, and nothing on the risks. That should ring huge alarm bells.

No-one talks of the negatives (I'll list a couple):

Why costs increased much faster than sales
Why the cashflow burn increased
Why the company is not providing any short term information
The cost of moving premises
The risk that the recent $33 M contract is a one-off
Management's history of over promising

If people focus only on the positives rather than balancing it with the risks they are going to pay too much and buy at the wrong time, hence the original warnings. Those that bought in when the hype was on are now sitting on an immediate loss of 10-20%, which may increase.

I've never suggested that DRO is not a promising company, but consider risks as well as possibilities and look for a margin of safety.