Ann: FY19 Performance Update, page-9

For those contemplating a sell....It might be worth comparing the chart back in June July 2018 with now, downward trend, short sharp spike up, then gradual move up... now add in expected announcements of IVL deals and Indian Military... add in further contract wins outside of these......this is going higher underpinned by revenue forecast minimum revenue rise of 10% in the second half, with next year lifting to Y on Y growth of 25% - 30% with the inclusion of the Indian Military deal. Furthermore EBITDA improvement should come with merging savings, economies of scale and better sized IVL deals improving margins...

With revenue probably heading to close to $50 mill in FY 2020, a profit of 2-3 million next year is likely to see a forward p/e of around 10-15 times back ended with a consolidated merger and a company definitely in focused squarely on growth.... at market cap of $27 million this is looking very cheap.