Ann: 2017 AGM Presentation, page-17

@drbrooks you couldn't be more correct with the "entering a new less risky phase". The US operations have sucked any EBITDA made in AUS, and it was the right thing to do, but has definitely put strain on the company - final result was the CR (which no one liked!). Still was the right thing to do!

I cannot see them being CFN in the US next year - outflows will be around the $20-25M mark with revenues only $14M - however this means as an entirety NEA will be FCP with a solid subscription base model and no further need for capital raising... This IMO will raise the eyebrows of analysts.

Will be very interesting to see whether they continue to chase revenue growth or try and solidify the US - I think the revenue chasing is more likely which could mean NEA consider another expansion by FY19/20 into a new region... Either way I am a happy holder at these levels - it is only a matter of time before US is CFN at which time NEA are making a solid EBITDA