I reckon the prospectus was misleading. The terminology...

I reckon the prospectus was misleading. The terminology surrounding the explanation of why the revenue dropped was unclear and implied the revenue had simply reduced due to transitioning to WaaS whereas in reality the revenue completely ceased and they had zero WaaS revenue. HC hearts then reinforced this misleading statement while no doubt selling to retail on IPO launch day.

I refrained from saying this immediately after the IPO because it would sound like sour grapes after a incurring a whooping loss, which now pales in comparison to the current share price.

this company is a start up but was dressed up as anything but.