I'm less familiar with this company than other contributors but...

I'm less familiar with this company than other contributors but here's my take after glancing through the report:

Net assets 128.4m as of 30 June / 278.9 mil shares on issue = so book val = 46.0c per share.

Add in further erosion going forward but at 14c seems conservatively undervalued to speculatively hold and wait for a new contract win. Ultimately I think that's what is needed to get interest back in NWH shares.

From the CFO report section: "Our internal forecasts indicate there is sufficient capacity, given the business plans to meet all debt repayments in FY16, as scheduled up to and including March 2016 – without the need for any receipts from any settlement with Samsung."

They got something from Samsung post June 30, as you all know. Perhaps they'll even get some more here? I'm not really sure I understand what's been awarded by the courts and how much more they're going for and what the timeline is with regards to their Samsung dispute.

That aside, with their shares being valued at one third of their book value it's a compelling argument to hold this and wait for a re-rate with a new deal win. Surely they'll get something new in FY16.

In the meantime they've reduced debt as much as they could and reduced their workforce so measures have been taken to reduce costs to be able to treat water with the contracts they've secured and wait for a new deal.