Ann: Quarterly Activities Report and Appendix 4C, page-16

Yeh, it's the belief and the certainty of rapid monetisation through the verticals . The potential is there, no doubt about that.
I'm not worried about current cashflow or earnings, it is what it is and they've done well to get where they are I reckon.
Rolling out platform before verticals not a bad strategy either, as it minimised capital risk while testing the waters for uptake of platform/app .
Now comes the make or break period and has to be through rapid integration of the verticals along with a strong and rapid uptake of the verticals by users. Both have to be rapid because the clock is ticking, management won't want SH to think they will need another CR and gunna fail on cashflow positive forecasts if they want to keep that lofty $700 Mil market cap .

Other points and comparisons that matter to me are....
Chose listing on ASX while head quartered in new York and solely operating in USA ...... Dogs attract fleas

Platform/app/data asset lacks the fundamental strength I need to warrant the current SP at this point in time, for me the certainty of the rapid increase in future revenues isn't there although I do think there is a chance they could make it happen .
I'll try and explain, the ACX model was more than just wanted by its customers it was needed by big construction companies because of the savings it created .I.e build 5 hospitals for price of 4 .
Uber took off also because of the savings it provided .
From what I can tell Upd lack this fundamental strength I like and doesn't cut the poor movers $9000 bill much, if at all . I also think there is risk of start up competition as they seem to be just a broker type middleman set up, America quite a competitive place .
Those are my main concerns so far.

For me, overall I can see the potential but without me seeing the certainty the SP has too much risk in it for a long LT hold because there's too much downside if it fails revenue needs.