You are right that a few key investors have brought the story....

You are right that a few key investors have brought the story.
But that is not to say other small cap funds wouldn't buy in if they saw the right signals on revenue growth exceeding cash outflows.
This would entice both small funds and retail investors, they buy in the same market and like the same things.

I agree something special is still a while away, I am talking about getting the basics right, higher revenue, lower costs, no cash burn.
Simple stuff really and then grow the markets off the base you have built, where your investment in growth reflects the revenue growth.
It puts the business in a much stronger position in a public market if the Board / Management do this.
They need to halve the operating loss ASAP and move to cash flow neutral quarters.
The indication is they are planning to follow the path I am discussing, they just need to get their financials sorted quicker!!
Even exceeding the markets expectations slightly on costs over next 2 quarters would make a huge impact!

International growth should also be better reported, so the market can start to understand these opportunities.