Ann: Half Yearly Report and Accounts, page-4

And the cheapest Cyber security stock trading on ASX and actually the cheapest tech stock on Mcap/Revenue multiple.

UPDATED PEER COMPARISON

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
0	Stock	Shares (m)	Mkt cap (m)	Annualised Revenue (m)	Half yr NPAT	Mcap/Revenue
1	Senetas (SEN)	1,081.25	$ 135.16	$ 20.60	$ 1.64	6.56
2	Covata (CVT)	647.05	$ 23.29	$ 1.33	-$ 3.05	17.51
3	Family Zone (FZO)	121.40	$ 77.09	$ 2.00	Loss (n/a yet)	38.54
4	Tesserent (TNT)	117.08	$ 10.54	$ 5.25	-$ 1.29	2.01

You would have thought that TNT should be trading at least on par with CVT i.e a market cap of $23-25m giving a price of at least 20c , not far from the 25c valuation from the Sophisticated Investor. This comparison does not even yet include the full blown potential from the recent Cyberbiz launch targeted at the SME market.