Broker Data, page-21

Seems a pretty clear short term trend in place here. The company is in a good position but catalysts and over promises still baked in. With so much supply just issued this will continue lower in the short term imo. Long term all good but they are along way behind where market thinks they are in terms in Sales. Distribution however has been very very good so sales will come - just much later. For this year however there is mathematically a limit to how much they can produce and therefore a cap in profitability etc. with a market cap of 200m+ this is stagnant. Max 20m units out annually rate up until November, and then maximum of 40m. 15m break even units at least with the new costs in the business and forecast 12 months NPAT will be max 5m making this on 40x. It is possibly warranted but upside for the minute is massively capped with the increase in working cap and lag in sales.