Ann: Baker Young Research Report, page-2

You can download directly from this link,

http://www.novatti.com/wp-content/uploads/2017/07/BY-NOV-Update-Report-July-2017_Finali.pdf

I like these points;

* "Novatti’s core technology platforms are robust and have been validated by a variety of blue-chip customers and partnerships. The Company is approaching an inflexion point as the transactional revenue divisions continue to grow exponentially, dropping high margin revenues straight to the bottom line, transitioning the Company into profitability. We believe Novatti is undervalued vs. its peers, and thus maintain a BUY recommendation and share price target of $0.275 per share with this share price target being the comprised of the DCF valuation ($0.28) and a per share valuation based on peer group revenue multiple ($0.27).
The acquisition of basis2 injects approximately $1.7m revenue and $1.1m EBITDA into the P&L, transitioning Novatti to profitability

* "Novatti has integrated their technology with a variety partners across number of jurisdictions. We maintain a BUY recommendation and share price target of $0.275"

Novatti's revenue mix is transitioning towards high margin, recurring or transactional revenues."

* "Novatti executed an agreement with epay Australia Pty Ltd to provide processing and compliance services to support epay’s roll-out of Alipay to their large Australian retail base. epay provides innovative and tailored electronic payment solutions to a customer base with over 23,000 point of sale terminals, which includes Woolworths, Myer, David Jones and JB Hi-Fi."
* Flexepin - "The Flexepin payment network has accelerated its growth, predominantly fuelled by cryptocurrencies. The Company noted that quarterly revenue has approximately double in each quarter of FY2017,with the June Quarter providing a 135% increase."

NOV IMHO is High Spec. This research report is a great read. I am looking forward to a market re-rate!

Do yourself a favour and check it out.

Gracie