863M shares on issue, thus at a share price of 1.7c, we have a market capitalisation of $14.7M. With cash in hand of $2.6M, that equates to an enterprise value of $12.1M. There are not many ASX stocks with a sub $15M valuation that are generating profit quarter after quarter. The company is debt-free and generating recurring revenues with good margin (which appear to have now stabilised according to the commentary). In my opinion, the downside is limited from these levels. The next update is the AGM where we will hear about the company vision and growth strategy, followed by potential stock research coverage which may be initiated soon. Wait a week or two to see how the market processes these results -- the initial knee jerk reaction has been overshadowed by a slump overnight in the NASDAQ.
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