I see it much the same way as you Rothbard. It was a...

I see it much the same way as you Rothbard. It was a disappointing year. But...the foundations for better results down the track do seem to be in place.

I was encouraged by two aspects of the report. Firstly, part of the cause of the disappointing year was the inappropriate behaviour of a key customer. No
fundamental problem with the business there, some things you just can’t control, and it’s a one-off.

More significantl is that we are actually negotiating with a partner who will help to sell the new barrier (and other products) in the US. Progress does seem to be happening, we just haven’t seen any actual sales yet (other than the NZ contract).

The market cap of only 7 million will look undervalued
if profits not too much higher than the $700,000 achieved in 2017/18 reappear. Realization of the export potential should result in higher profits than that. The company does seem to be on the right track. I guess we just have to be patient, as the Chairman alludes to.