Ann: Market update - utility contract amendment & rev impairment-BIQ.AX, page-36

not a disaster - but I can't believe they got this away at $1

I think 20c would have been more like the reasonable price considering they were only raising $20m and were cash flow neg

I hope they will still have $10m cash by the time they go cash flow pos.

84m shares at 20c is market cap $17m and if that is backed by $10m cash and some intangibles, I think thats reasonable.

I think this will bump around 20c until there is some sign they can stop losing $5m pa (past 3 years record) and start breaking even. IF they can get this right - the addressable market is quite big.

$5m profit pa would quickly give a market cap of the IPO price