Bull case, page-9

Not So much.

However, with Q2 2014/15 being cash flow positive and Q4 2014/15 also being cash flow positive... i'm inclined to think that right now, we have a profitable business.

That is, Q2 was +370,000 from memory and Q4 was +200,000. The loss making quarters of Q1 and Q3 where 560,000 and 200,000 respectively. So that's only a loss of $190? If we don't have many one-offs in 2015/16, i'd expect a small profit given the inclusion of eStore for the full year and the organic growth from the other businesses - that is i don't know what our organic growth is at the moment, but i suspect it's small. It should be enough to cover $190 for the full year. That should not be heard at all.