agm very positive, page-2

Thumbs up, thanks for that. I did not make the AGM but have read the contents of the ASX announcement. Really positive stuff, when will the local market recognise what has been achieved?

The main competitor in digital technology for Redflex in the US, and the only pure traffic technology company, is Nestor Traffic Systems.
Nestor has a larger market capitalisation of about (all figures in US$) $56 million compared with Redflex at about $41 million.

That difference in capitalisation does not make much sense when you look at revenue, assets and stockholders equity.

Nestor net stockholders equity $5 million (includes $5 million goodwill)
Redflex net stockholders equity $26 million (no goodwill)

Nestor revenue for last 3 months $793,000
Redflex November revenue alone $1 million
(only US revenue, does not include
other revenue)
Nestor US installations about 70
Redflex US installations about 200

The Nestor valuation multiple looks to be about 4 times greater than the Redflex one. Why is the Australian market putting such a discount on Redflex?