I've sold out with a small overall loss. I liked the core...

I've sold out with a small overall loss. I liked the core business and loyalty systems have a bright future (all the scale players have them for the simple reason that they work) but the levels of dilution even in the past year have been astronomical. The projections around getting to positive operational cashflow positive haven't come to fruition and the synergies projected in the acquisition I think also look pretty optimistic. I think there's significant risk they are back rattling the tin again. Even if they meet the projected EBITDA, the amount of capital tied up to achieve that make it fairly unexciting unless they can keep growing.

At $8m the acquisition seems on the expensive side although it does provide them with significant additional scale, hopefully they can get back to growing and then this could rerate in a big way especially if it turns the corner to fcf positive.

GLTAH