Are we currently overvalued?, page-7

As I have previously posted, I think the next 4C will tell us if BTH is fairly valued or under valued or over valued?

The last 4C was a cracker - being $5.0m + cash flow positive if you include the $1.224m government grant.

But their cash receipts & cash outgoings have not been consistent to this point - which is fairly normal for a growing company that can't rely on hundreds / thousands of business customers.

If they can have a similar result to last time - with cash receipts around $14.75m & cash outgoings of around $11.25m (so nett cash incoming of $3.5m +), then I think they are fairly or slight under valued.