Good point Tennessee, I'd guess looking at the current MLA...

Good point Tennessee, I'd guess looking at the current MLA Marketcap of $6.7m that this was already factored in (ie, little or no chance of that $2m eventuating). Most of us probably would've have written this off completely given the nature of the original announcement back in Dec-15 which provided very little on timeframes and how that $2m might've been be repaid.

I personally think current management has done a pretty reasonable job turning this around - or getting it back to where it was tracking in 2010-11 before subsequent delusions of grandeur took hold resulting in a costly lesson in the form of Medivet. One of the things I'd hope management improve on, might be improvement of investor comms and updates (- much like the Arda announcement) they probably should've announced the autostart burette Qld arrangement. Overall, though I'd rather they spend their time on boosting sales etc instead of spruiking minor deals like a number of other small cap asx stocks.

I think given how things are progressing this could comfortably sit 12c+ in 12mths time,Revenue $15-16m FY profit of $1m, PE of approx 11. But patience definitely required!


All IMO, DYOR etc...