IAM and the market...

the situation with IAM and the market is absolutely normal, that's the first thing to say.
Canion's podcast was very much along the lines of what would be expected from a Chairman of a (beseiged) company.
It is my belief that initially unrealistic timelines implied by the company are mostly responsible for the behaviour of the sp.

Oddly enough the issue of how seamlessly IAM's software would fit with any potential client was never mentioned by even the most ardent IAM fans and it came to bite them. Remember that comment from Fisher "I shudder to think" in relation to the amount of work it would take to get a big player running with IAM's product? but everyone glossed that over.

Anyway back to the market. The initial timelines failed, the stock was seriously over-hyped, and the market started pulling the sp back to where it always should have been. It's now back to around the start of the adventure after IAM emerged from SRT - and this is where it should be. From here in progress will be slow. The latest quarterly will be crap, the next might show some small improvement. But the stage has been set for the "We can't tell you much", so in the absence of any outright formal announcement of real clients I wouldn't expect the sp to move much at all in between times.

Whether IAM will successfully capture the clients they are expecting to remains, as always, in the dark....