KULR? Look Elsewhere

Been fishing around for opportunity and bumped into KULR again. Not something new, but with the precipitous price drop this year I figured I'd dig in. In short, it's still a crypto company. Recent PR focused on their product lines and data center battery backup units (BBUs), pausing large scale equity issuance, and huge Q3 earnings revenue sounds exciting, but digging into their 10k filing revenue jump was primarily due to realizing Bitcoin mining of over $4m, completely unrelated to monetizing their IP. Their assets are almost entirely digital-based. Physical inventory is tiny, all of $400k. Their energy platform revenue has remained flat YoY, at about $2m, though it has shifted towards product revenue rather than service, which is nice. Despite the rebranding to minimize digital assets as a focal point, it remains their primary business function. A favorite detail for me is to review LinkedIn and career pages. They remain primarily a handful of mechanical engineers strictly focused on designing battery enclosure. They have one open position for a salesperson. No need to dig further unless you are a BTC bull. Their battery business is tiny and inconsequential to their market cap even at $150m total cap. YMMV.