International unit sales up 176% on 3Q16 and 254% on 4Q15, page-6

Unfortunately, to be precise, there is no profit to be seen anywhere for the time being. To June 30th 2016 (6 mos.), VMT reported a net loss of 597k and a shrinking GP margin of about 28% (16.2% GPM at 30/6/15 to 11.6% GPM at 30/6/16). In their latest update, they suggest a yearend net loss range of $1 - 1.2 million. This means that no or very little progress has been made over the last six months. Chinese sales have dropped from 22010 units 4Q2015 to 20463 units 4Q2016 which is put down to changes in regulations---maybe so but you would have thought that greater emphasis would have been placed on expense and margin controls until the international sales countered the enormous drop in Chinese sales.
All up, the annual report will be a disappointment IMO. I remain a holder but my sentiments are beginning to change.