Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-19

See attached. When PNV was at all time high 3.2 Billion market cap. Aka 3200m. These were the financial figures. PVN still loss making. Also the revenue is high. But how is the profit margin compared to OSP?

High revenue without much profit can be a negative and substantially worse than low revenue and not much profit.

My fundamental view is the smaller the revenue, the more scope for growth- provided the revenue is not “too” small. The first 2m revenue is the hardest to earn. Just ask Brandon Partners. All the money and time invested into developing and commercializing the product is done- Just to reach the first 2m revenue.

OSP is a “faultless” asset to own “at any price” provided:
1. There is a dramatic reduction in executive pay and other costs.
2. There is a steady and consistent increase in revenue.