Brahms, what I found more interesting is the breakdown of their $2,208,779 Receipts from Customers. Note 5 shows this split into Software sales of $1,012,612 and Network Revenue of $1,197,324.
Network Revenue is the Send Yojee delivery operation in Singapore which they set up in the early days and which they state is just kept as a test bed for software development. So a bit over half their revenue is from their own local delivery ops of parcels. (Maybe that's the business they should have expanded!).
Software Revenue, the core business selling Saas to logistics firms, amounts to a lousy $1m revenue for the year. Think about that. The 4 top 10 logistics companies they previously announced, the supposed "1,000" trucking company users, the other enterprise clients, in all the countries they've rolled out to, the hub strategy initiated a couple of years back and the big cashflow projections put about, 8 years of sales efforts, all amounts to a crappy $1m in revenue for the year.
The have put their energy and a cumulative $49m in losses into developing a software product, but have failed to commercialise it.
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