“Progress to revenue generation” is not the disappointing aspect of the quarterly. The disappointing aspect is the company’s credibility, because it has given every impression we had already progressed to revenue generation.
“But Derek says” (or for that matter “Captain says”never really translate well into the cold hard light of reality, do they? So at what point do you start to take the company’s proclamations with a grain of salt? I’m actually surprised the share price has held up this well, considering.
Ann: Quarterly Update / Appendix 4C, page-59
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