Just had a look at their website. It appears they are introducing new product lines. 

Also had a random email exchange with the CEO on linkedin and he appears quite down to earth and engaging with share holders. He bought almost 50K worth of stock with his own money. 

Quick and dirty "valuation". Management considers a revenue of ~$20M achievable by 2023. Considering the company sells hardware and software (i.e. not a pure SaaS business) and considering that this revenue could double by 2028, I will give a price/revenue multiple of say 5.  Hence, arriving to a market cap of 100M by 2023. I assume the company will come back to the market in 4 quarters to raise some fresh capital, therefore increasing the share count to 120M. The share price will therefore be ~$83 cents. 
This business appears this business is quite undervalued. Am I missing something?