Ann: Investor Presentation March 2014 , page-15

Just so people remember we are looking at about $1M EBIT... 2.7c per share in NPAT for FY14 Before the larger parts of the contract start rolling in. Very cheap IMO. Also accumulated losses of $2.1M which can't hurt for tax credits. I'm not worried about the 10M shares that may be converted from July 2015 as that's more than a year away and the finance is cheap for this company at 8% plus even if they where converted it's still cheap.