So it is important to understand what drives share prices.....

So it is important to understand what drives share prices.. Jesse Livermore first stated words to the effect of, 'any given company's stock price is driven 50% by the market overall, then 30% by the sector as a whole, and then 20% by the actual company.'

The market in micro-cap land has been a weird one since March 2020. AR9 had a nice run from 5c to closing high of 50c. After that, the spec market got so red hot that many investors moved to ride the wave of absolute dogs and pump and dumps because even they were flying. A stale company that does cybersecurity and is expected to have long periods between contracts was not the popular flavour between Sept and Feb. Since early March, it's a been a sideways slog for much of microcap market.

The cybersecurity sector has not taken hold yet. It seems like to us that it should be, because cyber issues are everywhere, but in reality, we are EARLY! That's a good thing.

The company itself has not yet had a BONANZA contract or quarterly. Lots of great signs, really great early partnerships, and getting stronger by the day, but nothing that can yet overcome the market or the out of favor sector. And that's fair enough imo. The existing deals and relationships have been with big names, enough for the early, smart punters to take their positions, but not enough to achieve to critical mass. Hard DOLLARS are required for that, generally.

Market conditions appear to be favoring specs for a while upcoming, and the sector is gradually rotating back closer to front of mind. Simple fact is, cyber will never be broadly sexy to most retail, like EVs and simple commodities, but it will become more substantially popular than it is now.

Lastly, we are confident that company will have a bonanza contract/deal around the corner. That's the core of why we're here. Regardless of overall market conditions and sector perception, it wont stay a $60m MC if they are taking in $30, $40, $50, $100m a year. Stay the course. You're here early. That's a good thing.