While cynicism is always healthy there's a few things that give...

While cynicism is always healthy there's a few things that give some confidence that the escrow will either not be dumped or will not matter.

The escrow shares are primarily owned by David Dimasi, director of wholly the owned subsidiary Simpec

Whats not owned by David is owned by and ECON (WA) PTY LTD, Rechichi Family A/C, they have been buying on market and at last update owned 13.29% of the company. They may have sold a few already as I'm not too sure how they will go with the takeover considerations given that they would once escrow is lifted own more than 20% of the company.

If  in the unlikely case that they do opt to take profits then keep in mind there were 347m shares traded today, 4.6 times the total amount coming out of escrow.



The MC here is around $32m, the MC circa $22m. They generated $7m in net cash from a quarter, albeit with some collections from the prior quarter but even if you work on say $4m per quarter going forward the PE would be somewhere around 2.

Growth remains on track with record revenue (+300% quarter-on-quarter, +360% year-on-year) and a record contract pipeline of $50m and a strong tender pipeline.