Because of global nervousness, ADA's share price has fallen...

Because of global nervousness, ADA's share price has fallen sharply over the last few days and buyers have all but disappeared today. Anyone thinking of selling ADA today for an unrealistic price should note the following:
1) Adacel is on track to post a decent full year NET PROFIT. The company has confirmed this fact on numerous occasions, so they must be very confident about it.
2) As announced in the Chairman's 22/11/02 address to shareholders, ADA is in a "strong position" to win 42 ATC sim systems planned by the US Army for early 2004, and 35-50 smaller systems for the US Navy. This contract, if won, will be ADA's second largest to date (second only to the $140m USAF contract announced last year).
3) There are a handful of civil and defence ATC contracts around the world that ADA is presently bidding for. Keep in mind that ADA haven't lost an ATC sim contract in two years. The balance of probability tells this investor that ADA is likely to be announcing a few $2-8m sized contracts in the short term.
4)Brent Mitchell at Shaw stockbroking recently valued ADA at $1.50. I expect this stock to be trading north of this figure after the 03 full year results are released.