You bring up some fair points.
However, I disagree on the fact that Phunware hasn't evolved since 2013. Remember, this is a tech company. They have a big chunk of customers that bring in money on a daily basis by multiyear contracts. This steady inflow of revenue allows the company to expand it's portfolio and add new features.
Year over year the platform grows and grows and new customers are being served with Phunware's tech stack.
Once you developed the stack, you can scale up to as much customers as your salesteam can handle.
And it's the tech stack that's interesting for companies that would like to acquire Phunware one day.
Don't forget they added a lot of new patents to their portfolio. Those alone would be worth the current market cap if they capture the attention of the right industry players.
The whole phuncoin project looks very promising to me because it's basically an interesting way to raise cash to further develop their operation. Think about it, the republic campaign alone raised 180000 dollar, those were mainly employees and unaccredited investors. I'm sure institutional investors would like to have a piece of this pie as well. The whole cryptocoin indystry is still very young. It's like the tech industry in the 70's. The Microsoft's and Apple's of tomorrow are being build today.
But I do agree that they could do a better job of releasing real news in terms of financials, new customers. But keep in mind, many companies out there release the type of news Phunware recently released to be noticed in the market. Their end goal might be to find another company that would like to acquire Phunware.
