Underrated on what metric? The fact it has no sales and no cash?...

Underrated on what metric?

The fact it has no sales and no cash? At its current market cap, one could very easily argue the opposite.

Let's be realistic here - we're all praying for a proper contract win from the Navy or Thales....those guys presumably want tried and tested products and here we are just in the midst of developing said products...on a shoestring budget, with staff costs higher than the potential value of any initial contracts we might win.