I must say that I am more than a little stunned that CV1 is back...

I must say that I am more than a little stunned that CV1 is back trading at 10 cents?

This was the highlights of the company update from 3 - 4 weeks ago on 30 January 2020:

CVCHECK ARR GROWTH, CASH FLOW BREAKEVEN, B2B WINS

• CVCheck books first revenues from Volkswagen, Panasonic and other large enterprises

• First revenues from two recent tender wins expected in Q3FY20

• $3.2M revenue in Q2FY20 (7% higher than PCP), consisting of $2.4M B2B revenue and $0.8M B2C revenue

• Booked Annualised Recurring Revenue (ARR) increased to $9.8M

• Breakeven on operating and investing cash flow, including partial FY19 R&D incentive receipt of $0.1M

• Strong balance sheet with cash at bank $5.8M as at 31 December 2019

So CV1 is at cash flow break even, has more than likely move to cash flow positive already, is winning contracts with large & well respected B2B clients, has $5.8m cash at bank, and has first revenues from recent tender wins now coming through.

IMO they also appear to have impressive management - so not sure how this equates to a market cap of under $30m?

Is the revenue growth (to this point) somehow not strong enough? As now that they are focusing on B2B, and with a much larger sales team built over the past 6 months, revenue should start to crank up going forward.