"Not often that you classify this as non current.Why did they...

"Not often that you classify this as non current.Why did they book the revenue and profit and not book it in the following year when they expect to collect the money?"

I think that the following, which is from Note 10, is code for:

They sent bugsy around to have a chat with the debtor and PME are confident that they will get their money.

"Payment terms on $3,499,656 (2017: $301,356) of trade receivables have been renegotiated. Of the$3,499,656, an amount of $2,351,000 is due after 12 months and the remainder within 12 months. TheCompany has been in direct contact with these debtors and is satisfied that payment will be receivedin full."

I am more worried about the stratospheric PE.

They will have to grow their earnings a long way to grow into their current PE.

To bring its PE down to 20, PME will have to grow last year’s earnings of 12.2 cents at 18.8% PA for 10 years or alternatively at 41.1% PA for 5 years.  So far PME has managed 8.9% earnings growth over 10 years and 40.7% over 5 years.

Without any change in margin, their revenues would only have to increase from the current $35.9m to $201m.

PME claims that the overall market is in the billions, so I suppose growing their sales to $201m is possible without resort to a gravitational singularity.

I don’t know how much more margin improvement they can achieve, as it is already at 62%.

However, I suppose there is no actual limit to how high margin can go, albeit temporarily, until either the government makes it a crime or the competition catches up.

Anyway, Google can have my PME shares for $50 each 

Cheers