There is no question that diversity of revenue needed to be part of an end state.
I just question whether it was the right call to double down on a strategy for diversity first (rather than finding a line that would better support the company), when the market for pre-income tech companies was tanking and it was clear that sourcing capital was going to become difficult.
If we can skate through to the other side though, I guess it could be that we are the better for the diversity first approach.
If we need to raise capital soon then that's going to look ugly.
Time will tell if they made the right call - a CR at 4c would leave me very unimpressed. It would also be pretty easy to get gobbled up with a market cap around $50 million. Lets hope no one is looking too closely.
Its good to have conviction, but when the circumstances change, I like to see my leadership able to change with it.
I am not convinced that what I saw was conviction and not just plain old stubbornness.
What this announcement does, alongside the others with similar (albeit small) commitments, is put an end to the naysayers who like to come here every now and then and say the technology is not unique and doesn't have commercial value.
There is no doubt they have products that can drive long-term success - the immediate challenge is financial.
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