Despite a $10m raise there seems to be zero material traction...

Despite a $10m raise there seems to be zero material traction with this Water SaaS product. The sales cycle seems interminable. Without any meaningful sales from Water its hard to see margins moving much higher unless a similar style offering can be conjured up quickly in the other 2 segments. I think the MD has definitely lost the confidence of the market. Wouldn't be at all surprised to see Ellerston dump it. Went substantial in June 22, say they picked up their position over previous 6 months, avg in price of ~14c, down 40% with no real sign of prior promises made by MD being delivered upon.