Not sure that the price was a bargain at 19 cents, or even at the latest low price of 17 cents today...
The issue for Beamtree is that the company was overpriced from the beginning, with huge amounts of goodwill from the purchase of Potential(x) and the contract with The Health Roundtable, which was almost half of the total value of the company. Unfortunately, Beamtree has been unable to grow that segment of the business, and is not investing in maintaining it, other than the multi-million investment in a new IT system.
I had a look at the Health Roundtable website today. https://www.healthroundtable.org/Join-Us/About-Us/Our-Team
It hasn't been modified since 2019, and I would be surprised that more than 3 of the 35 staff shown in the photo are still with Beamtree.
Ann: 1H FY24 Investor Webinar Record, page-16
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