Ann: FBR General Meeting Presentation, page-35

'Also, you think that just because they couldn't go down the VC path for funding seed stage and had to reverse list, that makes them a failure?'

Yes. These type of companies tend to be meme stocks and FBR shows all the hallmarks of being the same. Most of the 2015 era tech stocks have already failed. Only two, BRN and WBT, have a large market cap but they also have negligible revenue. The asx is full of 'ground breaking' technologies that are obvious 'no brainers' to non-experts. But the potential users with industry expertise usually think they are useless-that's why sales are usually next to zero. It is amazing how many penny dreadful 'investors' think they know far more than industry professionals.