Ann: Quarterly Activities Report and Appendix 4C, page-38

Good thoughts for sure.

I tend to look at this the other way around - i.e., what is a company that is growing the top line strongly and profitably worth in terms of market cap?

There is some point where the market can't ignore these facts. Is it worth 17M? No way! If we can prove out the business model as being more of an annunity of revenue, why couldn't we be valued like a SaaS business by the market? Churn at the end of contracts will be important on this one.

From my perspective, if we can keep growing proiftably and strongly - 10x from here in the mid term without trying. All we need is time (for the company) and patience (for the shareholders). If we can become self sustainable (cashflow positive) this is key, as we won't require discount cap raises periodically.

Just my view.