Hi Seb, around August last year, we were not talking about body...

Hi Seb,
around August last year, we were not talking about body armour and Eclypsis were we ? From recollection it was only in December for the body armour and sales. Given we have just hit April and it does take some companies time to adapt; meaning they are locked in to contracts at prices etc, it is early days to see the uptake of the product across the market. I would think that a year from December may start to have an impact on other companies who are not using it, to see a balance sheet issue. Maybe I am out of touch with the market, but for the companies who are not on the bleeding edge (most of the bigger companies) its pain that makes you "Pivot" to the necessary products that are not in your wares. If Customers are demanding a better cooling tech and some larger segments of market are adopting it e.g. South America then to my thinking others will then also adopt it.
It has only been a few months since the announcement and Christmas was in between so while we all want something to happen soon, some further time may need to elapse for the Market to fully materialise. I think for the numbers of persons in the company, they are doing well and I agree that they have turned a corner (for me some time back). I look at things like an extra 4% of US budget to military and of course globally this is happening and I think that Cheney might start being further of use, across a spectrum of developing products. As for multiples, I am not sure at this stage that there is any correlation, just faith that the company is heading in the right direction to become positive and able to maintain that moving forward.
Good Luck to all holder