There's no doubt it's a tough situation, not helped by general market conditions.
Seems to me previous management were trying to be all things to all people and getting none.
We're going after multi-year multi-million-dollar NATO defence/commercial contracts. Forget low-hanging fruit. Ilario has stated quite clearly they are focusing resources into areas of highest potential. Part of that has been cutting away all the dead wood and streamlining the product offering into markets best suited to benefit from the tech platform. We do have customers, just not enough and not fast enough:
Global Contracts: Significant progress with major customer contracts but moving slower than desired. Strong interest expressed by customers in the Group’s technology and services supports our strategy to diversify and scale our revenue base together with the new products and services (Nodestream™ Live) in the next 12 months which will diversify and grow our revenue streams.
Meanwhile, we have the support of the CN holders Schaffer and Gangus, plus other HNWs and family offices providing much-needed working capital, the SP has stabilized - it could be worse - and there is speculative interest from at least one other party accumulating a substantial shareholding.
Last but not least, we have Ilario, without whom we would be toast.
Nothing we can do but go for the ride. Or not.
I hate not knowing what's happening with my investments. The more I know, not just about any given company but everything to do with them and the markets they operate in, the better I am able to make decisions. At the moment we're flying blind. It's not ideal. Hopefully Ilario will be able to provide a more detailed Activities Report than we've seen in the past few quarters. Personally, I'd like to see another webinar.
Even better, a material contract to show all the hard work is paying off and we have turned the corner.
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