Ann: Thermal Camera System Commercial Launch, page-14

I've always drummed it up to Security is not a flashy and hot industry,

Which in turn means the only thing which will create interest are substantial revenue numbers and contracts.

My predominant indicator on whether i hold this stock long, is whether we see QoQ increase in MRR via rentals/software subscriptions. Since i don't know the margins on the sale of their HD4 cameras and thermals. I'm solely focusing on the rental numbers.

The BOD have to prove to the market they deserve a valuation which takes into consideration future earnings growth. At the moment the markets not convinced.

On the above basis i think its fairly valued.

I do believe SP3 is a micro-cap with potential but it's going to require patience. If they continue kicking goals, breaking into new markets, establishing networks with global tier 1 clients, investing into further R&D. They can rest assured i'll keep holding.

Of course this is just a punters opinion

GLTAH
Cheers
J