An EV of $16-17m seems high for a company generating HY revenue of $150k.
The deals they have signed have failed to meet expectations. I just cannot see a big bank, AU or global, shifting their tech to a company which, imo, is headed towards administration.
But it does seem, imo, based on nearly 20 years of existence, that Norwood can raise cash. But to what end? Sophs getting in at say 20% discount then selling out on the next price-sensitive news? Is that all Norwood has going for it? Ariadne sold out. Smoke.
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