Prepared to buy ?, page-10

Yeah I’ll continue to hold and buy when possible. I’m looking to Dec18 – or the Jan19 4C to see what progress is being made on cash receipts (hopefully growing each quarter) but more importantly on the cornerstone initiatives. I think they have a good chance to have significant progress on one or all 3 of them by then – that is a European licencing deal with some initial sales - further penetration into bedding – and an announcement on supplying chemistry on military uniforms.
You’d have to say one at least will fall into place.
But I still hope that all 3 will and more – there is so much potential here and that’s why I’m staying.


I’m then looking at Dec19 for them to have locked in those cornerstones and have recurring significant sales.
Just for an example by Dec19 I could see the potential for recurring annual sales valued at say $80m pa ($20m current sales and say $10m NF, $10m additional bedding and $40m military) – If they achieve that take off a 30% COGS and $10m in operating costs and you have $14m in profit – apply a P/E of 25 and you have a share price of $1 or a 6x multiplier on where they are now. Yeah look it’s still all speculative I admit and you can use any numbers you want – but’ it’s this possibility that keeps me here…..