At least the cash backing provide security. You would see quite...

At least the cash backing provide security.
You would see quite a bit of other tech plays, who has almost zero cash yet their EV is like 10s of millions of dollars.
For 1PG, it does spend quite a bit of money on its own technology. It has patents on this and has acquired a tech company (over $10M) to integrate and improve its technology and therefore we have a new version product. And those technology is bringing in revenue.
To be noticed also we have already had a few $MM book build quite sometime and eventually it will be converted to revenue. It said this conversion may have a few months delay and this month if we see it in revenue. I am 100% we will get a re-rate and share price will rocket to moon.

IMHO