Hi Imran,
I completed a quick exercise on this stock un-audited.
Including FY2011 until Q1 Fy2015 the company has generated revenues of $48, $3M operating cash flow, and -$1M in free cash flow. Debt has reduce by $1M and cash increased by $0.5M, the balance of this sum has been made up from recent capital raisings.
The company has had three quarters in this period which have produced meaningful FCF i.e. above $700K. Subsequently followed by poor quarters and R&D spend.
I am not convinced that the company has the scale nor the product demand to produce consistent profit.
I appreciate that they are coming to the end of a product update cycle.
What is going to lead to sustained profit from here?
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- Ann: Appendix 4C December Quarter 2014
Ann: Appendix 4C December Quarter 2014, page-39
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