You make a few good points. I think they are referred to as vampire companies. Funds keep them on life support to justify their valuations.

And with PowerHouse IPO coming, they want a high valuation. I surprised they haven't pushed to IPO Hydroworks first.

In both cases the companies are progressing. Whether it is fast enough, I don't know.

For croplogic, I think they made a mistake of being too technical. They should have launched a MVP earlier to get out to market. Have a look at CropX valuation to see what could of been on a much simpler product. I see them as similar to PEB, the tests they have done show they are the best but getting big uptake is what they struggle with.

For Invert, their product is ready, they have done all the tests and just need to sign a contract. There are few users in there current niche but they are all big so it will be feast or famine. Once/if they get that contract signed, they should grow quickly, then look to diversify into other areas.