Thanks Frostie, and agree with your thoughts. A couple of other takeaways from me:
The $40+M they forecast for H1 2024 (slide 5) they believe they will exceed in H1. They are already ahead of their Gross Margin expectations for the year (slide 8) They have moved the company to the point where it can scale easily and quickly. They even acknowledged that while the Company's track record over the past few years had been 'sketchy', the track record of the current board and management team is excellent. Every Exec and almost all Board members 'significantly contributed to the last Cap Raise' (approx 28:50 min mark) Water companies need to show double digit growth, margins of 35-40% and 10-15% EBITA, get valuations in low to mid teens of EBITA.
I was actually quietly confident after listening to the call that we may not have much longer to wait for this company to finally reach its potential (and the SP to get back to where we'll all make profits...). I recommend to everyone.
FLC Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
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