it seems to me that the whole issue of revenue recognition relates to trails they do with customers and there is a dispute around how successful it has been so they invoice but don't get paid and then have to argue with auditors that payment will come eventually once the marketing claims have been verified.
The bigger problem here is the confidence in management. first they have a pile of cash and repeatedly say they are fully funded, then they fail to read the room that investors want to see a pathway to profitability in a rising rate environment, then the belatedly extract cost saying it will not harm growth plan (so what were they holding so much excess cost for???), then they still need to raise capital, then the outstanding payment is looking good to come, its still looking positive...good progress being made....
Management needs to regain shareholder confidence or move aside.
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it seems to me that the whole issue of revenue recognition...
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