I would say this is positive improvement. I note following:1....

I would say this is positive improvement. I note following:

1. Income statement - EPS is positive compared to last year and that's improvement of 105% (correct my maths if wrong).
2. Cashflow statement - positive $5m from last year's negative 342k which is improvement of 1566% (correct my maths if wrong)

now, what is high risk that market probably don't like is $12m debt. current cashflow good enough to pay that but not big enough to pay within 2/3 year @ 4m / year .......... so definitely need to improve in free cashflow ... IMO.

so company should issue quarterly early and provide update on how they tracking on paying back debt taken so far and importantly shouldn't venture taking any more debt even for attractive business and any future acquisition should be based on payment by issuing company shares only to cashflow positive business .... in my opinion... !

as company has roughly 333.542 million shares outstanding there would be better chance of paying dividend of $0.005c fully franked if there is franking credit ... imo.

too much aggressive takeovers/buying wouldn't take long to be next WCG so VN8 should stay humble and concentrate on organic growth (without acquisition) invest in staff and build strong balance sheet should be priority if they want to play long game .... in my opinion.