From the Annual report in Dec. It would be nice to put in a bottom. Our StrongBox go-to-market strategy remains on plan," said Rob Sims, President and CEO of Crossroads Systems. "Our sales team along with our channel partners, continue to successfully penetrate key market verticals where we believe Strongbox is poised to become a leader in long-term archive solutions. Additionally, the revenue pipeline continues to grow over the prior quarter. We saw our first follow-on order from a StrongBox customer, confirming the capacity-based revenue model that StrongBox brings. The Iron Mountain development effort is on schedule and we remain excited about this pivotal relationship. The overall strength of our model was shown over the course of this last year as product revenue increased 32% from the prior year, positioning Crossroads for continued market leadership in 2013 and beyond."
Agree strongly--an interim update would indeed be nice. I understand that sales are not ramping as quickly as many had hoped, but it appears that CRDS/Rob Sims are building the foundation for a very profitable longer-term business. O.K., so Sims will need to raise more cash for the short term. Let's get it done, and keep the sales pedal to the metal. Disclosure: Long 27K shares, and well underwater (for now).