Ann: AGM Presentation, page-19

Just playing around with some numbers which I hope appear on posting.

First column is per the annual report showing our loss to 30 June 2019.
Second column is based on a forecast , no not for 30 June 2020 - but based on a 12 month period perhaps starting early next year.

If we assume that current annualised revenue is running at $8m pa ($2m per quarter) add in (as per the AGM) half of the current pipeline of $45m which they have said is in the late stages of closing - so say another $22m - that gives potential revenue of $30m pa. Assume a 35% margin and 5% increase in operating expenses and that the debt is fully paid off which is their stated hope -so no interest expense. Then I get them making a reasonable profit, without military and possibly without ICL.
Are my figures wrong ? - Again just something to digest ...

		2019	Forecast
1	Revenue	5,059,039	30,000,000
2	Cost of Sales	(3,453,297)	19,500,000
3	Gross Profit	1,605,742	10,500,000
4
5	Operating Expenses	(6,408,915)	(6,729,361)
6	Loss / Profit before Finance Costs	(4,803,173)	3,770,639
7
8	Interest Expense	(2,793,604)	-
9	Gain on embedded derivate	629,642	-
10	Interest received	27,614	-
11
12	Loss / Profit before Tax	(6,939,521)	3,770,639