AEI Valuation Discussion, page-89

Thx for sharing BM. Lots to learn from the upcoming 4C and materiel near term catalysts just at hand. The business will turn a profit this FY which will also put it on the radar of funds via mandates to only invest in profitable companies and others that run screens of the market looking for new opportunities.

The key thing for me is scalability. We know the demand is there and the market opportunity is huge but can they hold fixed costs relatively stable - ie obviously assuming some growth. If they can this will be a money printing machine!

On comms I think they’re doing ok. For this size market cap it’s about building trust and doing what they say they will. That immediately means making or beating guidance of $13m. Don’t get me wrong, I’d love forward looking statements but the damage that can be done if you miss can be huge. I’d also rather more longer term investors in this stock than hot money, which comes and goes quickly. Michael Ford is indeed a good addition.