Ann: Annual Report to shareholders, page-187

Kevin buddy. Cashflow was awesome not sure what you are talking about. The one off not to be repeated working capital moves just hid the inflows from view.

My calcs are $21.7m operating cashflow, less capex of $10m, less leases of $5m, add back in the $12m odd one offs in working capital (build in receivables $10m and $4m build in inventories should be a one offs and a small decrease in other $2m) and you get cashflows of $18.5m! On a $100m valuation.

With lower capex next year, lower tax payments and a bit more revenue I hope and fervently believe this can be $25m+ going forward, putting us on a p/e of 4.... insane