Ann: AGM Presentation, page-6

but isn't the kicker that those units are producing that income in future years, so if in year 2 they add 40 units, you are then at $5.4m, with the initial cost of the first 20 machines paid off, so profit margin % only increases. (40, 40+40, 40+40+40, 40+40+40+40, etc?)
BUT... IF (a big IF)… they get 40 units in 12 months, then you would expect that the following year would have increased sales (word of mouth, industry acceptance of WAAS, previous purchasers potentially buy additional units)… (40, 40+60, 40+60+90, 40+60+90+135, etc)

how many IPO listed companies are based on their current sales, or even 1-2 year forecast?

IMO / DYOR!!!!