Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-3

$4 million revenue for the Quarter
Don't forget about the $20 million cash in the bank

"Net cash used in investing activities increased from $2.2 million in Q1FY22 to $9.3 million in Q2FY22 (and +315% QoQ).
The increase is mainly attributable to $4 million investment in Canopus, $3.4 million paid for NVIDIA Cloud gaming
infrastructure, and network infrastructure investment in anticipation of the scaled neXus network rollout."

A LOT of Expensive infrastructure has been purchased and is in place (re wireless broadband infrastructure, cloud gaming infrastructure, NEXUS in the process of being set up, investment in CANOPUS). What Pentanet are attempting to do is certainly not a cheap business to establish. Only time will tell how successful it will be. So you definitely could argue that the true potential (yes, I know, POTENTIAL) has not been realised from any of these expenditures yet?

I wouldn't say its "so over priced" but each to their own, If we continue to see very slow growth and adoption rates of the new tech then yes, one could certainly argue that. But for now I'm happy with the process, just need to see the revenue increasing by double digit percentages and move towards being CFP.

Goodluck