Dearest TechBunny, I thought about rhyme ... and then the fear set in. A haiku at best maybe hahaha.

Page 6 of the Annual Report, refers to WineDepot, DW8s main revenue stream as SaaS. Deep dive into the Notes 8 and 9 of the report and there are no software sales or software licencing as part of the revenue streams.

Outcome. RhymeBunny is correct, and this Doggo is wrong - The board are being liberal (ie misleading) with the term SaaS as it is sexy and attracts cash. Another reason this stock is caveat emptor.

[edited after forum discussion and further evaluation]

The AFR has an article today about DW8 doing another acquisition, and funding it via CR and share issue.

DW8 is a very young company, having started from seed money in May 2019. Having done 4x CR, and this being the third acquisition since seeding, DW8 continues to exhibit the uncertainty of a young SaaS company in a retail industry (distributing wine and alcoholic beverages).

Will it go on to be a success story? Or continue to raise money from investors on continuing promises?

Note to future-self – Remember that I like SaaS, but avoid competitive retail investing or ventures that are easy to copy. This one is not for me.