Ann: Appendix 4E, Full Year Statutory Accounts and Annual Report, page-39

Agreed, someone is trying to cap the price at 2.7c.

This is an outstanding annual result for CXZ - I'm in.

Current Valuation:

• 863m shares on issue
• Thus, at 3c, we are looking at a circa $25M MC
• 3c is a PE of 8 on the FY20 result (a high growth tech company should be trading way higher than a PE of 8)
• 3c is a recurring revenue multiple of 3x (a recurring revenue multiple of 3x is way too low for a company growing revenue at >100% p.a.)

Fair Valuation Using the PEG Method:

• NPAT was up more than 500% to $3.2m
• For a PEG=0.1, a fair valuation would be ~500 / 10 x $3.2m = $160m MC
• A $160m MC is a share price of 18.5c

Alternatively on a revenue multiple approach:

• Total revenue was up 130% to $8.2m
• Using the 1PSR per 10% rule of thumb
• The fair value revenue multiple is 130% / 10% = 13x
• 13x x $8.2m equals a market cap of $106m
• A $106m MC is a share price of 12.4c

The fair value range is somewhere between 12c and 18c (a market cap between $100M and $160M).

I've loaded up at 2.6c and 2.7c

Watch it fly once accumulation is done.

T.E.P.