Worked through it a bit with my partner (lawyer with no interest/ specialism in commercial by trade).
A couple qs for others (and IO if someone has the channel!)
1) Is Pointerra / Here satisfied at this point. Do either party take further action? IO alludes to damages to reputation/ business development/ costs that are potentially pursuable under Australian consumer law.
2) Why were invoices allowed to accrue to $625k? Did these form part of the liabilities on balance sheet? Or can a company decide not to report if in contention? (One for accountants)
At this stage, this appears to be a low cost route of resolving this dispute - low $10000s? Given that Here have already stated they have no intent of pursuing $500k, it’s unlikely they’ll pursue further action for $125k.
I would love to know how this has affected the company since 2021. Bevan was said to be most excited for the marketplace. Well now we know it was likely scrapped due to the data being not fit for service? Is this why BS bailed?
IO has stated Pointerra has access to one of the largest data sets to train algorithms on. Is this Here’s set?
On a side note a material win wouldn’t go astray!
3DP Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held
