@schueym99 without going on a long discussion since previous posts have already addressed, I recommend that you watch the videos from Ted's fireside chat.
The key point you are missing is the debt financing component in 2019.
Your A/P will increase to a certain degree but you have a debt facility to use for cashflow.
Q4 2018 is bad. Yes!
Q1 2019 is ok but a massive improvement in revenue growth (remember that Q4 is the busiest quarter)
Q2 2019 4C pretty good and is consistent with Ted's regular announcements. Increasing Monthly / Daily growth (rate) + CASH positive (albeit small)
Upcoming:
Q3 2019 Expect increase on Q2 by +X% due to seasonality factors + min $65K per day revenue + possible increase $x
Q4 2019 busiest quarter, possible 30-50% increase on Q1 (someone correct me on %), 3 consecutive positive cashflow 4C results
That's not to mention things like
+ AdCel growth
+ potential to increase $100K per day
+Fixed COGs costs due to digital automation instead of humans facilitating publisher adverts
+ international market space
+ new activations (software interfaces) to increase
The negatives on this are:
- Historical figures pre 2018 are just like any other startup - cash issues and SP dropping so old holders exit as new ones come in.
- lack of institutional support, although this may change as attention grows
- consolidated cashflow balance sheet still a little weak
- bad debts, write-offs still a possibility but are being addressed and are decreasing
- MC low (although I see this as a positive since EN1 will grow exponentially)
So the re-rate will happen at some stage if all things hold true. In the meantime we are certainly going to get daily/weekly SP movements.
The actual market cap valuation ...well that's debateable.
