inq-ugly annual report, page-2

I thought it was ugly too. The dealer groups are getting around 50% of the revenue so expecting that all the other variable costs will increase as they get more dealer groups onboard, it could be quite a while before they even start to breakeven to cover their $7m administrative expenses. I'd be interested to know what FUM they need to start turning a profit. I think the current price has already factored in a lot of major future contracts being on the books so imo further downside is possible