im sorry but you are making assumptions based on a 1 1/2 page...

im sorry but you are making assumptions based on a 1 1/2 page report from some small company in Ohio. Very little was actually shared in the report. As for Telstra, sounds like you are saying that because it is in their store that the software should work in a medium-large organization. I'm not sure what your background it but enterprise organizations don't order off a Telstra marketplace. On top of the very little information provided about the supposed Telstra testing and testing from a random company in the tech metropolis of Ohio you can't find a single real technical document online from IWG. Find me one online and let's go through it together. They have so little real information available it is astounding. Not only do they not have any real case studies on successful deployments in REFERENCE-ABLE accounts, they don't provide any details on how to installs or manage the product and how it interacts within an environment. I'm sorry, but for an organization to redirect all of its connections through IWG they are going to want details and not a two page report from the security giant in Ohio.

As for sales and channel sales, you forget that IWG isn't a startup, although their sales liken them to one. They have been around for YEARS. Where are the results of all the marketing and the pipeline generated over the years? That's right, they don't name any actual resellers nor do they discuss pipeline or revenue objectives. They don't even break down what their sales actually consist of be it product or services. They operate in a way that keeps their investors and potential investors in the dark.

The most interesting information to come out of the is the mystery sales that happened to miss their quarterly report. Perhaps they won't recognize the revenue until January but we weren't told of their accounting methods and standards which would typically be mentioned in a financial report so we don't really know if they are using a cash basis or accruel. So again they leave us all guessing. Good news there are sales. Even better news is that they put a number our there in print that they will need to account for in their next report. Big steps for them IMO.

At the end of the day neither your opinion or mine is a factor in the actual value of the company. The market sets the price correct? So far the market seems to think the stock was overvalued and it is correcting. We are seeing the lowest SP since they went from private to public.

Once again, I think the product looks neat. Has all the buzzwords that are out there. Show me something credible and I'll likely buy some when the stock tics upward. Right now they are in a bad state and only a foolish investor would throw money at them.