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TheHedgeMeister

11/21/25 10:00 AM

#524 RE: splintered sunlight #523

Yeah, this is generally great. The finally-released filings confirm a couple of things:
- Shares outstanding remains 521,175
- The overall business remains pretty badly run in many ways, but it seems the long-term service contract is stable (~4M$ annual base) and the Nodeware business has been built up from launch to well over 1M$ over the past 3 years.

Right now the valuation will be very strongly weighed down by the unprofitability (from laughably high general/admin/operating expenses. But with a long-term 4M$ contract and a cybersecurity software asset that's grown to over 1M$ ARR, I'd be surprised if this remained valued under 2-3M$ market cap once it gets re-listed to OTC Pink / QB.

That would be $3.80 - 5.80 PPS range.