A mixed financial result.On the one hand they have increased sales by 40% to $5.1 million cant complain with that.The half year indicated that $3 Million sales for the half is a break even level.On the other hand it appears expenses have not reduced in line with the $700k reduction stated a year ago. The increase is stated as funding future growth strategies which is ok provided you get the sales in the door over the next year.Share price wise the current price is ridiculously cheap and leaves the company vunerable to merger/takeover as a bolt on acquisition to a bigger player The IP alone is worth at least $15-20 million market cap as a merger/takeover. Pricing we should be trading at least at 008c I dont think major holders will sit on their hands at the current price.
IBN Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
