Ann: Knosys announces new $320,000 contract with SBS Bank, page-26

Got a bad case of insomnia here, bad timing as I have an important work meeting at 7am, but anyway I decided to induce sleep by reading more announcements/reports.

Last year's expenses ran to around $3.2m, which when income was deducted left a deficit of $2.1m. Their cash balance in September was $2.5m, only a $300k loss for a quarter though I'm not sure if that's representative for the full year - let's assume an ongoing annual loss of $2.1m prior to the new contracts.

With the latest announcements, we can add $120k a year for SBS Bank and $1.2m for Singtel. That reduces the deficit to around $900k a year, enough to keep the company going for 2 years before they run short on funds assuming no other customers are signed. At the current rate of growth, it looks far more likely to me that KNO will be turning a profit before long.

If I've missed something or got my sums wrong, quite likely at this hour of the night, please correct me