Ann: Appendix 4C - quarterly, page-11

So what if it’s slightly cash flow negative... profitability is all that matters since there’s plenty of cash to fund growth without dilution.

Can you please let us all know the reason you think WSI is a ‘sell’ at just a $15 million market cap? Keep in mind there’s a few million net assets and a FY20 NPAT of $2-4 million coming up (most likely ~$3 million IMO: around a million profit per quarter as per today’s ann less about a million for corporate overheads).

I am also genuinely curious how so many people such as yourself who used to post here seemed to know to sell into the 5 cent pump when it looked like the business may be ridiculously profitable. Up until the point of the prelim report release a month after the July quarterly it wasn’t clear that they had received so much cash in advance and that this next quarterly was extremely unlikely to be cash flow positive.

I think the speculators that got in yesterday hoping for a pump that was never going to happen sold out today for a loss. Hopefully there’s another nice contract win sometime soon and a steady reversal back up towards fair value which I see as somewhere between 3-6 cents depending on the PE ratio and future growth levels.

What do you think fair value is? If lower, please justify as I do like to hear contrary opinions.

Anyway, it’s very clear from your downramping and observing your posting style on other stocks that you are looking for an entry somewhere.