The small cap stock we review in this report enables machines to communicate with each other and it is well positioned to benefit from vast and expanding new opportunities related to the Industrial Internet of Things (“IIoT”). It’s also being valued incorrectly because supply chain issues are being misunderstood (and they will clear up) and because it’s being valued like a traditional hardware company without proper recognition for its growing subscription revenue model (which warrants a higher multiple). In this report, we review the business, the expanding market opportunity, valuation and risks, and then conclude with our opinion on investing.