First thing to ask is: was the all time high unjustly high?...

First thing to ask is: was the all time high unjustly high? Probably. ATH close was 52c.

Cybersecurity is not the hottest sector right now. It hasn't heated up fully which means meaningful early money is only just arriving/yet to arrive.

The company itself has not yet had a BONANZA contract or quarterly. Lots of great signs, really great early partnerships, and getting stronger by the day, but nothing that can yet overcome the market or the out of favor sector.

If we use the last quarter's revenue of $1.5m, the company is current trading at 10x sales. That is not egregiously undervalued.

If they release a eureka quarterly (e.g. 150-200% sales growth, turning a profit) and land a large LT contract, it will create a critical mass where the 52c mark will be chased down very, very quickly.

It takes longer than 10 months for fruit to fully ripen in a sector that is not tremendously fast moving, but when it does, due to size and stickiness, it can go BANG quickly.