"They definitely have Aventurine, but I still have faith that...

"They definitely have Aventurine, but I still have faith that the bigger picture (with a bit more time) could surprise".

Yes Tony, it seems like the baby may have got thrown out with the bath water.

So here is VOR having reached and/or on the cusp of:

• 8 consecutive quarters of positive operating cash flow
• having delivered a tiny maiden profit in March, well on its way to another profit
• expansion this year into Melbourne, Brisbane and London (I think they were already in Singapore)
• being supported by macro tailwinds of 15-20% growth in cyber & cloud
• with $2.8m cash in the bank (come December)
• Sufficient cash to pay out C10
• effectively debt free
• cash flow to increase post the December quarter (last C10 payment in January 2020)
• Just had our best quarter ever in terms of receipts ($4m with seasonal factors)
• R&B on board and the influences/likes of Cadmon gone
• SI's having just paid 0.011 to underwrite options
• 4 R&D projects in the pipeline, supported by internal cash flows
• on the lookout for further acquisition(s)
• having no individual contract considered to be material on revenue
• seemingly enjoying a high client retention
• being prepared to provide guidance for the forthcoming quarter
• further accreditation for Protected Government accounts (federal, state & territories)
• AWS clearing the path in relation to whole of Government deals

Yet somehow we find sentiment at a low and the SP is the same as in June, with tax loss selling.