Ann: Full Year Statutory Accounts - Year Ended 31 December 2018, page-3

I would say the loss is primarily attributed to Lakeland, and most likely all the extra costs they're currently facing due to all of this bureaucracy ...

The 65% increase in recurring revenue is great, but we're cutting it pretty fine with the cash burn vs. cash reserves. We'll either have to take on more debt or do a CR based on this, unless Lakeland 100% reaches financial close by end of H2 2019, at which point we would have bought ~2 years extra time?

Changing my sentiment to hold/held. Lots of uncertainty - this is definitely not for the faint of heart or weak of hand!