This has been an amazing journey. ASV is the second change of ticker, assets have been bought and sold so many times one becomes dizzy. Management has come and gone as well.
the best way to view the company is to ignore everything that happened prior to the latest ticker change (or maybe 6 months prior). View it as a software company with a really good product that has now done a back door listing. It’s got rid of all the corporate expenses it inherited and is now running as lean as possible and achieving cash flow positivity (helped by the R&D allowance). It should achieve positive NPAT next year, the deferred consideration will be paid in FY25 from cash flow and it has no debt.
ARR is growing - quite slowly but it is and it sounds like momentum will increase.
If you try and look at past history you wouldn’t touch this company with a barge pole. If you look at what’s happening now, it’s a micro software company with good clients (Ventia and Governments) and has potential. High risk but possibly high reward.
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