Fresh eyes

My first post on DUB - don't understand the fixation with this stock.

Lets start with with the positives:

Clearly their is some serious testing in the Dubber Labs going on given the $1.5m "service platform" costs experienced in 2016 - I think this is DUB paying service providers (cloud & telco) for volume processing - serious volume = serious players (but who is signing!).

Like most technology stocks I suspect the technology is good - but this a minor issue when commercialising believe it or not.

They are Broadsoft accredited - but interestingly they still do not appear on the Broadsoft website as a partner...

Can't think of any more…...

Now the question marks:

As many have mentioned they have promised the world but delivered very little.

Even the announcements they have made are yet to materialise in the reported numbers ("Big 4 Bank""M2" "etc etc". No coincidence their IR firm is the same as 1PG!)

The have 5-months cash remaining as at August 31 taking into account an R&D tax credit of $1.5m - they are burning money faster than Usain Bolt burns the track and will have to raise again.

For a company that has a short window to commercialisation their management/board have too many fingers in too many other stocks (LER, LNU, KNO…who knows what else privately) - this is a real concern.

Issuing free performance shares on a share price level - joke. MMJ is the only other stock I can think of that this has happened lately - quality company!

Have noticed google ads recently - but with telcos as target customers and so many resellers why would you need to pay for google ads? Struggling maybe?

The business model looks to have changed - they used to talk about $/user/month - we see nothing in these terms anymore - always a concern - think 1PG again…and RFN.

Diluted for performance shares they are capped at $40m…losing $5.6m at the EBITDA line. Need a $10m EBITDA turnaround to look mildly attractive - that about 130,000 users in the old language.

At the end of the day we are yet to see ANY contribution from signed "TELCO's" in the reported numbers, costs continue to rise, cash continues to be burned and the window continues to close.

Good luck holders.