just had a quick look at this stock. I would be really worried...

just had a quick look at this stock. I would be really worried as a holder.

1) been "building" a product for a long time. Now they are still talking about a release of another version of the product

2) 2k revenue this quarter? is that like 1 or 2 offices using the software (just speculating but probably somehow a friend of someone on the board)

This points to a product that is nowhere near product market fit

3) ao1 just received 950k in r & d grant. This is a tax offset available for r&d expenditure. It is self assessed, but with strict requirements around documentation, and many software companies have been getting audited and forced to pay it back due to insufficient documentation or not meeting the criteria. The ATO announced last year they would be cracking down on software companies claiming the grant. Given this company's expenditure (currently 100k per quarter on r&d), I don't understand how they got such a big refund. Smells fishy and all I can say is that I hope for holders that their R&D claim isn't looked at by the ATO.

4) there is not much being spent on this product (100k per quarter gets you a team of 3-4 devs). How much better can it get?