Ann: Half-Year Financial Report, page-18

FWIW in my opinion AJX presents an incredibly easy prospect.

Credit to NC and the team, they've put out $18 million revenue for CY2016 as the floor and reiterated it on multiple occasions. Yes the constant scale up in this and trial in that seems superficial, but really it's an indication of just how much business the company is drumming up. The financials will lag, it's the nature of the industry, however if you believe what the company is telling us customers are adopting Alexium's solution in ever increasing volume the numbers are a matter of time and waiting for them will miss the opportunity.

The sales and cost of sales will remain out of whack for a while as the costs of servicing rapidly expanding new business will outstrip the lagging revenue from established business, but even there the numbers already look promising.

My only concern is the prospect of world markets falling over in a very big way, and indeed is the reason I believe AJX is trading as low as it currently is. A bit of macro stability could see a well justified recovery in the SP, in six months time if the numbers we hope for come to pass it almost won't matter what the macro picture is as any island of growing free cash flow generation will be a magnet for any funds desperately seeking yield/opportunity in a world where they are scarce.

Essentially if you believe the company will deliver their stated numbers it's a shoe in, and the financials won't tell that story until it's too late.