Ann: Announcement of buy-back - Appendix 3C , page-31

To my understanding May and June are key months in this business and the fact they are trying to buy even though they are doing a good job of getting alot is a favourable sign that perhaps things are running smoothly and with $2-3 in free cash and capped at $7M that's all we need I reckon this new management has already proved they can improve the business and margins. Latest results profits were up about 200% with Revenues up about 10% which is more than the previous result. They've had Revenues over $30M since 2009 we just need to ask ourselves what net profit margin are we likely to get...? Even a 5% NPAT margin would mean a profit of $1.5M capped at $7M looking at a multiple of 5.... Surely it calls for 10+ since its the mend.