Ann: Appendix 4C - quarterly, page-19

Agree with your numbers. The only thing that may keep this company from turning a profit next quarter is that at the bottom of the 4c they have forecasted to ramp up product manufacturing costs by 600k which will bring total quarterly costs to ~$4.3m which I'm thinking will be about our next quarterly revenue, so we may only just break even, although I'll happily be corrected.

I do agree with some posters on here how the company is being fairly quiet with its announcements, whether it's to keep the SP low for a take over offer I'm not sure, or perhaps they aren't fussed about short term SP which kind of supports the first point

But announcements or not, sooner or later people will start to understand the numbers this company is producing each quarter and the co cannot hide these. Ie if we were to strip out the growth costs being the $2.568m product and manufacturing for the quarter we would have a quarterly profit of $2.5m, as this income is recurring and contracted we can annualise this income to $10m per annum. P/e multiple of 15 is fair due to the recurring nature of the income and that's a market cap of $150m or a share price of around 6c today