Ann: Full Year Financial Results, page-59

As far as I know only one person made a prediction of $40 mil plus or minus $3 mil, so that is $37 - $43 mil. Actual expenses were $32.115 mil

They kept a lid on employee benefits, legal fees, advertising and marketing, travel expenses and to some extent consulting fees which did not follow the pattern and rise in line with increased sales activity, otherwise I would have been right in the zone, but it is a good thing that they are busting their chops to keep the expenses down. The additional sales staff in the 2025 year are going to play havoc with margins and expenses will definitely kick up a lot.

I suggested that the company would have between $5 mil and $6 mil in the bank at 30 June. It had $6.1 mil.

Given that the company rarely communicates with its shareholders and the last data was a half year 6 months ago, I reckon that is not too bad

The company has 228 mil shares and net tangible asset backing of 0.043 cents per share, or $9.8 mil. Current market capitalisation is $52.5 mil. There is little or no connection between asset backing and MC, but it will be hard to make a case for undervaluation and just as hard to get exposure. It needs FOMO.