A spectacular quarter for new contract sales .... there is still one monster phase III out there to land as well. Another big 10 million + contract and normal service for the rest of the year and we could well hit US$ 80 million of contract sales for the year. The net cash position is going to start building like crazy from here. Just on the contracted increased revenue and with the bonus quarter behind us, we should see at least another US$ 10 - 12 million build in the last 3 quarters taking us to a net cash position of @ A$ 40 million by year end.
The board also flagged the launch of Cognigram in the US and Asia as an imminent and significant event. It can not be too much longer until we get picked up for research coverage by a bulge bracket firm and then start to see a few instos creeping on to the register. Happy days, once the rotation in shareholders sorts it self out we will go higher, a lot higher. A quality, growing, cash generative business, in an area that will see at least a decade of significant structural growth ... not much not to like.
CGS Price at posting:
$2.39 Sentiment: Buy Disclosure: Held
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