I don't know if it has changed materially, but based on the...

I don't know if it has changed materially, but based on the reports I would expect that it has. Consider that most of the potential customers were signed up last year, & the whole process can take up to 12 months (if I understood correctly). That could well mean that many more sale conversions were yet to be made at the time those figures came out. With everything going on, it is likely that they also experienced some delays. That doesn't necessarily mean that the sales fell through, but rather could mean that they happened & are happening a bit later than anticipated. Time will tell, but reading between the lines, why else was there a DOCA instead of a winding up? Why else would new management get involved if it was just to tarnish their reputation with a hot potato? And what else would they be doing after restructuring & coming out of administration?

Understandably previous investors could be upset, but it ain't over until the fat lady sings, & my spidey senses tell me they may well be in for a pleasant surprise. Of course, I could be wrong, but at this stage there is more to be gained for everyone involved, including existing investors, by being optimistic. And there is nothing to be gained from being pessimistic: you can't even short the stock.