Ann: Appendix 4C - quarterly , page-3

Agree.

I'm comfortable enough with this. In fact, some very positive aspects:

* rate of sale growth will see them smash the $22 million minimum 2014 sales indicated if maintained.
* gross margin maintained @ 67%.

With aspects of their cost base fixed, and some relating to putting in place what's required for growth, the above are exactly what's required for SOM to be making good profits in 2+ years.

My concern would be if either of the above deteriorated, or corporate cost base increased for reasons that weren't aimed at drving growth. At the moment i'm seeing what's needed.

mjs