Ann: Sensera Investor Conference Call - audio recording available, page-18

I would argue that SKF is operating in a totally different market - one that is already very saturated. If we have an in-depth look, without the tax incentive, they would not be operating in a positive position. SKF reminds me of many cloud companies on the ASX.

Sensera is operating in many blue-sky infant verticals, especially in the MedTech space.

Yes, SE1 still needs to fulfil its promise of profitability (I have said it over and over that cash flow positive is not what I’m looking for - I’m looking for profitability - 2 very different things) and I believe that once that happens, a re-rate will happen very fast.

sE1 $28m market cap currently vs $50m SKF market cap.

***Fully diluted as current SP***

So really, there is a lot of room for SE1 to grow. Revenues for this FY estimated to be AUD$15m and won’t be surprised if it gets close to $30m in FY20. At 55% margins, expect Ralph to hit all of his EBIT Milestones.

Don’t get me wrong, I think SKF is building a pretty solid business model too which is demonstrated by their recent contract wins.

Both very different companies operating in totally different spaces.