Thanks for the feedback 4sight, let's just say I wasn't...

Thanks for the feedback 4sight, let's just say I wasn't surprised that you didn't put up a chart.

For those who haven't looked at it and to expand on JamWolf's earlier comment, the balance sheet had Net Assets at $61m in the annual report with only limited intangible assets. The current market cap for the business is $41.75m.

While I wouldn't claim to be a chartist, I have had a quick look at the 3 month, 6 month and 2 year timeframes on the chart. Again, I am not suggesting the indicators are positive, but I think we are in a long period of consolidation, that should eventually turn into an uptrend.

If you look back at the 2 year timeframe, the stock has really been consolidating at these levels for 18 months since around April 2017. There is a minor uptrend channel from that period where the low was 15 cents, we are currently sitting at the bottom of the trend channel, which is lower than what it has been previously.  

I am not suggesting it is going to be stock of the year and I am sure there will be some great comments that offer very little insight for people other than the author, but I am yet to hear a good argument as to why there would be more downside risk here than upside risk for investors.

I think Hills are on the right track, the business is now strong and profitable (hence director buying!) with further gains to be made and while the stock price isn't that strong, I think it can start to show some progress in the next few months. Personally I don't think much will happen prior to the AGM, but that can't be too far away anyway. Updated market guidance for this half, or FY18/19 might get a few investors interested.