The announcements could be essentially an arse covering...

The announcements could be essentially an arse covering exercise, they're required to announce anything "material". Auditors generally deem anything >5% of revenue material so in these early stages any sales are material.
With your apparent background in real estate, ask yourself if you like the Inspector360 product, at the moment that is basically what the future of this company hangs on, I like it. It's essentially a start up, so of course cash burn exceeds revenue, their burn is actually pretty respectable IMO.
My sentiment is basically, the lowish SOI (500mil), clean balance sheet, worst case these guys have another few bites of the cherry yet, and are basically valued as dirt. They can pivot from here. But, I also think Inspector360 is a decent chance. Announcements to date have IMO been misinterpreted, ie/ significant partnerships, and people expected rollout at scale 12 months ago, $ to be flowing in. The punt now is, integrations are done, tenant collaboration is up and running, the product is ready and if all goes right we should see sales. From $3.5mil market cap, this could easily multi bag, and the downside is fairly limited with no debt.
I've created an AO1 ** server if any1 is keen to chat on there;
https://**.gg/P3yqpZdm