...mmm...interesting.... first you compare it to Xero, now you...

...mmm...interesting.... first you compare it to Xero, now you are comparing historical fund raising to being 'capitalised'?

...comparing apples with watermelons mate.... AUD$ to USD$....have a look at your Simon Frasier notes how these things work in real life...so a 2 month crash course on Business 101 does not make you a CEO of a listed company...

...GSW has used >20% of the $100M they have raised to pay their executives ~$20M in compensation with annual revenues <$500K/year...and used another $20M so to acquire 'revenue' to ensure that the executives qualify for 20M of bonus shares before the Dec 20 deadline.... so $40M was used to help themselves....

.....probably ~$15- 20M was spent on legal cost after they committed alleged fraudulent misrepresentation....and their escape to Canada....

...the ~$45M LDA funding is not viable at this stage....not a chance that LDA will be able to materialise under the current terms when that amount is the same as the company's current market cap.... will dilute everyone until thy kingdom comes...will be 10% of last fund raising round which was $4.00/share....

...that leaves that only ~$60M of money that was spent on something....~$10M on overheads (offices, $450K/year office managers, equipment etc)....that leave $50M.... massive staff turnover, which means a lot of work had to be redone , redundancies etc.... so let's say only $30M was effectively spent on the current platform...which after 4 years are still only making $500K of revenues (excl acquisitions)....and most app reviewers (drivers) are giving it only...2...3 stars.... prefer to go with the competitor's product....that is assuming that all those 5 star reviews are fake one's and that the IP addresses of the reviewers, are coming from GSW's Denver offices...like the last time....

...bottom line....they have only raised ~AUD$100M to date....managed to spent probably only 30% on the actual platform....and now out of money....I can bet you not one of their competitors are paying their MD & CEO $4M/year....now poor Rob has to go knock on everyone door for a bridge finance based on what I am hearing....

.....so, who is going to give them 1c based on this track record? Insiders or more 2017 pitches on NEO about the potential to attract the ignorant/uninformed.....especially now that the ASX has told them that they will be unable to do more PR stunts via ASX announcements...don't know why they are still defending it.....3 years later...not one update on those multi-year Billion $ agreements they have announce, that are now already expiring.....

...my 2 cents..... and my 10 minutes pro bono for the day....