NGS might be a Terrible Tadpole at the moment but I believe it will have a healthy growth and turn into a frog in a years’ time given the recent effort on rolling out the products to as many market as possible. They’re a CAPEx light , high gross margin business just like when A2 started out. 16000 customer online giving you a $2m sales in America. Customer base is growing at approx 3K per quarter if you read into their last quarterly. Product is being rolled out offline in 100+ pharmacies in the US to further boost the sales. 30 new customer per pharmacy per quarter gives you another 3000 new customer. Promotion is getting traction in China. ANZ and Korea roll-out is expected some point of time this year. Mathematic tells me their revenue is likely to double if not more this year and operating cost has hardly increased at $2m+ if you read their HY . I will let you work out the rest. The pond is too big for a tadpole but too small for a growing frog.
NGS Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
