Ann: Alexium / Cowen Partnership, page-51

I'm not sure too many jumping off, those that are here now have genererally seem to be the ones that believe the story and are prepared to ride out the bumps. Was happy enough to pick up some more at 59 yesterday after finally cutting some losses and getting out of the dog DNA ( now there is a lesson on how management don't give a rats about their shareholders). On the upside RAP is giving me something to get excited about, but not sure in the potential of it long term and far more confident of AJX in long run.
The revenue will come and once it does it will recurring and then growth will be exponential with additional customers coming on board all the time. It is difficult to absorb the share price retraction this year, especially when we all expect it to be going the other way. I figure the company thinks they are just about to start kicking goals with the hiring of Cowan to kick start the US IPO process again. There must be contracts progressing well to fall inline with the IPO in the next few months. Maybe management have decided that based on the way the share price has been hammered on ASX can't really get much worse if they did go to the US markets, and there just might be more American investors who see the huge upside than Aussie investors.
Lots made about the latest report on COGS, my 2 cents worth is that there is a lot of trials going on and I'm sure whilst the customer will be billed for them, they wouldnt be until formula is right and then might only occur when on invoice when customers order the finished product.
Margins will be very healthy for finished product but AJX may well keep initial trials close to cost in winning customers, who knows, but no company wants their customers knowing too much about their margins otherwise it puts them in a poor negotiating position when pricing the contract with the other party.