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With a bit of luck the June 2017 quarterly cashflow report will be out by the end of the week. Given the board is planning the AGM in September, getting ready for the annual report to closely follow in early August.

The board has already reconfirmed the positive $500,000 (approx.) before tax profit result for FY2017. I have compared this result to the previously three financial years which was a loss of $233,222 in FY2014, a loss of $385,366 in FY2015 and a loss of $452,411 in FY2016. There was a growing trend of increased losses which was concerning. That has come to an abrupt end in a year of transition to outsource manufacturing in the USA while at the same time finding a new precursor supplier, introducing a global chemist network and commercialising the ZinXation range.

Comparing FY2017 against FY2016, there is a $950,000 turnaround. The doubters will tell you it’s just purely cost savings, they might even suggest to you that they are probably just one off savings that will not be repeated; I personally think that there is a bit more to it. The ten per cent increase in revenue is promising. We will find out soon what is going on with ZinXation. My only advice is if you are thinking of selling, perhaps wait until the reports are released and then make an informed decision.