Hey @Spartan . I know little about this company, but from a quick glance it looks like they're still burning $1.5M a quarter. Given they haven't yet showed any evidence of the unit economics of the company working, they could go broke and burn the whole $20M down before they turn the corner to cashflow positivity.

That's a pretty dark view of things, but my guess is that is how most investors are likely viewing the company. For all I know, they could be making a lot of their revenue by under-bidding their competitors and winning business that way (Ie. charging $500 for a camera that should be $750).

You're right that on paper it's a net-net (more cash than market cap), but I never like to take a bet like that on a cash burner with a hardware business model (even if they appear to have some software here too).

Just my take. Take it with a big grain of salt, I've done 2 minutes of research on this company.