Ann: First Positive Operating Cash Flow Quarter, page-18

TMacker - I agree with your comment in principle but bear in mind that the business is seasonal. On the assumption that they continue to grow the customer base at 6Gwh per month, I have Cash profit of <$1m this FY followed by about $3m in FY19 and $6m in FY20. You do have to take investment of about $2m or so p.a into consideration also.

I'm not sure what p/e you can place on this stock just yet, as a number of things have to pan out, but if you can look 2 years ahead you will be looking at cash profit of $6m on a company with a market cap of $60m currently.