I have to say even I was shocked with the result today and I was hoping to get in at a point where the self generated cash flow sustained the company
my concern now is that the business model itself is broken and it's just not investable
I supposed with the CFO stepping down from the Boatd and management not taking up stock in the last placement was a red flag but I failed to read the tea leaves
the gap between ARR and recognised revenue is very concerning and it makes me curious as to what ARR really is ... in fact 1.6m of the revenue was services not subscription
when you see 66 million dollars as expenses on a page for a company that generates 18m in revenue you have to say there is no leverage on the business
maybe management can pull a deal out of the hat but it looks like they have run out of runway
I can't see how this will be break even in 2 years which is where the market is expecting
LVT Price at posting:
40.0¢ Sentiment: None Disclosure: Not Held
