Agreed that when you are taking revenue only into account to value a business the value of Spenda, at the moment isn't attractive however, the value of the developed software that has been created and purchased also needs to be considered. A junior gold mining business that isn't generating any revenue is still valued based on future opportunity eg what they have calculated they can get out of the ground and over how long the life of mine is. In regards to Spenda in that light would mean that the current value is way under what it should be considering that the NPV of the software per (i believe) 2020 annual report was $0.70. Once the debt warehouse has been implemented and future DWs are announced to the market the revenue will push dramatically higher and hopefully the share price.
At the end of the day the day I'm completely disappointed that the share price has slid down hill, I'm also equal disappointed by AF coming out publicly trying to pump the share price but can understand that he is contractually restricted from releasing announcement to the public etc etc and that all he is doing is trying to reassure investors that what we have is something special. Investors (long term holders) need to understand why they have invested in the company and i for one am pretty confident that the next 2 - 5 years will be excellent.
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