Ann: Dubber Completes $6.5 Million Placement, page-30

Well there had better be to prove this isn't a pump and dump so the new guys get a big fat profit when they get their shares.

This from the last quarterly;

Customer billings increased from $174k in the June quarter to $195k

So that is $780k per annum, and even if we use a very, very generous PE of 5 years FE = $3.9m

$51m = Current Market cap
3.9m = Current earnings on a forward PE of 5 years

Also with 15,600 users vs revenue of $195k, they're only making $6 per user per month.

Something smells wrong and the numbers highlight it. Better be some ridiculously large contracts coming in with revenue (not telco waffly non commit agreements) otherwise people are going to get burnt.

Good luck.