Even the market has said the IoT has been slower than expected...

Even the market has said the IoT has been slower than expected this year so XPE is currently trying to find additional revenue sources, hopefully enough for them to be cash flow positive or neutral or close to it from offering other components of the ADRC (which have turn them into revenues recently i.e, Lenze's iPark apps and Solekai), JCT and Jemsoft/MI (acquired mainly for resources but you never know).
http://www.computerweekly.com/news/450413540/Progress-on-business-IoT-adoption-slower-than-expected
https://internetofbusiness.com/iot-adoption-eiu-report

As for the PPS, some thought it was a good deal and decided to take it up, and others didn't. It's your choice and decision, I didn't take it up as I thought it wasn't a good offer at that time.

I haven't heard of a CR recently, it was mention that they've got approval in the EGM to allow for them to raise it if required in the future and the quarterly was on time wasn't it, otherwise they ASX would have acted.

As for the bot and iceberg trades, it isn't illegal trading strategy and widely practiced on other stocks.

But agree, the CN was poorly done, hence they are getting repurchasing the $1M and cash burn should be half that at $1.3M instead of $2.6M per quarter.