Hard to say what is going on, there's been some chat about virtues of market engagement -v- fundamental value drivers when assessing this thing and maybe that thought process is spread wider than just the HC community.
Since listing they have raised circa $21m and accumulated losses circa $22m based on the Dec 16 1/2 year accounts.
The market is now saying the company has EV circa $9.7m (exl fcst Q4 Cash $3.2m) so its basically worth its capital value prior to listing however since that time revenues have doubled (or are at least on track to) and market engagement has grown exponentially via RR.
Maybe its just a really good buy at these prices or maybe someone knows something I don't.
Rent Resume Predication, page-46
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