Ann: XTEK Half Yearly Report and Accounts, page-7

Xtek in business spectator:
http://www.theaustralian.com.au/bus...-cashflow-number/story-e6frg9lo-1227246906144

Xtek (XTE) 38c
WITH an eye for a bargain, lawyer and wheeler and dealer Uwe Boettcher used his spare change to scoop up a wad of the military hardware provider’s shares at one-seventh of a cent.
Now Xtek chairman, Boettcher sits on a 25 per cent stake worth a handy $1.8m after what’s been a wild ride from “basket case” to a leader in carbon composite materials. Shares in the Canberra-based enterprise — if that’s not an oxymoron — listed in 2005 at 50c, ramping to 90c on the paranoia following the London terrorist attacks.
The stock then just as swiftly plunged after the then-management failed to execute a company-changing merger. “At one stage I thought I had bit off more than I could chew,’’ Boettcher says.
Xtek’s know-how pertains to a high-pressure process by which carbon materials are converted to light and ultra-strong componentry. One application relates to a long-range sniper’s rifle made by Germany’s Blaser (as in “blaser-way”).
Initially, Xtek provided the weapon to our special forces on an agency basis.
With Blaser’s endorsement, Xtek then value-added to the process by adding custom-built parts such as magazines and a folding chassis.
In the US, Xtek won $1.5m of government research funding to develop bespoke body armour for the military.
Currently, Xtek can only do small production runs and is aiming for an global alliance with one of the big name suppliers. Xtek lost $885,000 in the first-half on revenue of $1.57m, but Boettcher forecasts a full-year profit with “some degree of confidence’’.
Sales to the military are weighted to the second half, as the defence heads scramble to expend their budgets by June 30. Spec buy.

I like this sentence:
"Currently, Xtek can only do small production runs and is aiming for an global alliance with one of the big name suppliers"
We might see a deal in the near future IMO.