TA discussion, page-4550

New to AJX (not a shareholder yet) and a few observations (I'm sure it's been mentioned already but hopefully I will reiterate)

Taking a 3 year view and fundamentally no doubt the company is growing through higher sales. Expectations are for a considerable improvement and profitability to be achieved within 12-24 months (perhaps earlier). The market is fairly huge and varied so there are plenty of opportunities for AJX to grow.

~$11M in cash is reasonable as long as costs are kept in check and revenue rises as per management commentary another capital raising is a 50/50 for me in the next 12 months (depends on managements growth ambitions and R&D spend). Usually costs in a growing tech company grow with revenues so the jury is still out how that will pan out.

I would never buy a company on the premise of a t/a. That is like buying something on the promise that your investment will always go up. Buy it on fundamentals and growth outlook

It seems the fundamentals are currently trying to catch up to valuation and market cap (let's not forget a big rerating for high growth stocks has been underway for at least 3 months). To my thinking it's getting there and consolidating nicely meaning it will have a very strong base to move upwards if management delivers revenue growth (and keeps costs in check)

One also has to ask them selves whether management are capable of driving the company further forward and there is nothing to suggest they can't (they have done remarkably well to take it from nowhere to commercialisation and now growing) so that's a tick of approval for now

Keys or catalysts for me to see the share price move up is profitability and cash flow positivity (which should be achieved shortly from what I've seen). Also any new contract wins will add to pent up buying pressure

Risks are delays in contracts, cost blow outs (general market malaise is out of your control and is just short term noise so that's not a factor) and further capital raisings.

Overall I like it on a few levels and I see it growing over the next 3 years. At current prices it's in the accumulation bracket