They sure use simplistic (honest, but simplistic) accounting. I mean, it is nice (and very rare) that they only book revenue when it is banked rather than just contracted, but it makes their financials look terrible on the surface. It also makes them, along with the low stock price, a very attractive takeover target for one of the very much bigger players in the medical electronics industry.
Ann: Appendix 4C - Quarter ended 30 September 2018, page-5
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