Hi asdzxc , I'm questioning their use of " gross margin " . The way they tabled the 4c
it appears that they have deducted all expenses (cash outflows ) and called it GM , to me
that represents Net margin . I stand to be corrected . I have emailed them and waiting for
a response . AJX becomes much more attractive if they are trying to achieve NM of 40%.
I noticed during the webcast that the speakers were becoming confused as to time frames
between the American and Australian FY , have asked them to just refer to any time periods
within the frame work of the Aust. FY .
Also there was a slip up by Dirk ( I hope ) in the first few minutes of the webcast when he
mentioned that revenue has dropped by $2.8m , however the 4c document states the drop
was only $1.6m . There was a figure in the 4c of $2.8m that refers to the previous period's
loss , hoping they will clarify....cheers
AJX Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
