The issues are firstly the excuse of revenue and contracts being...

The issues are firstly the excuse of revenue and contracts being pushed out into the next year as explained already. Secondly capitalising a percentage of the expense line now looks like an accounting move to decrease the current year's losses. Thirdly they are clearly burning too much cash in R&D and S&M without realising a substantial increase in revenue. Question is how much spend in R&D and S&M is required just to maintain the current revenue line ? Suspect wastage and inefficiencies along with increasing R&D maintenance spend is occurring and hence a belated "strategic review" as the Zuuse cash has all but been blown up now. Best result all round for shareholders would be a trade sale.