Phunware Inc (PHUN)

[candeloro]

He is talking how in theory all that should work and I agree with him there.

But this company is operating for 9 years now.

They do not have a app where they are collecting data like facebook (although they always try to create the impression they collect data of 1 billion devices, this is if at all anonymous data).

They are presenting the phuncoin as the next big thing.
This is what they write in their annual report from 20th march 2019

"The PhunCoin Ecosystem is currently in the development stage and is intended to enhance and augment our current mobile application platform...

...we have decided to initially use the Stellar blockchain technology for the PhunCoin Ecosystem, although we may choose to use a different blockchain technology in the future."

There is not even a whitepaper.
The interview he is pointing to on twitter is from June 2018.
That is nothing happened in almost a year.

It is all a theoretical explanation on how a coin could be used in mobile, nothing is actually done.

You are paying 10 times sales for a company without profitable business operating for 9 years telling the same story for 9 years and now added cryptocoins in a theoretical narrative to it.


Lets make a small comparison

PHUN
Market cap 300 million
Sales 30 million US$
Price/Sale ratio 10
Business: mobile app development plus plan of a coin


OSTK
Market cap 520 million
Sales 1.82 billion(!!) US$
Price/Sale ratio 0.29
Business: Online retailer plus crypto incubator medici
https://www.mediciventures.com/companies with (part) ownership of 20(!) cryptostartups
plus tzero crypto trading platform plus operating and regulated coin


So do you think there is a discrepancy in the valuation?