SCL Technicals - Upside breakout on increasing volume, page-9

Takeaways from updated report on progress of SCL since September quarterly. Report issued by Capital H Management issued yesterday and is available from their site .

. SCL is a first mover, a disrupter of current business model in the placement of staff in the International School industry. For large placement companies to be able to compete with SCL they'll will have to cannibalise their own placement fees and introduce Saas.

. the current MC is only 20m , worst case scenario, a MC of between 29m and 35m.

. Since the September 2019 report, Reoccurring revenue has surprised on the upside, with an ARR of $5m looking achievable this calendar year, rather than end of the FY 2020 , as first envisioned.

. cash balance has grown to 2.3M, and another cash positive quarter is more on the cards

. 233m escrowed shares were released to the MD, who isn't likely to sell onto market.

. Fair value .033 to .038, plus blue sky.

. Capital Management have taken 19 % of stock, and are buyers at current prices.