Ann: Consolidation/Split - TPS, page-5

Hoping for a big fish to buy them out before they ran out of working capital was the old "make a loss leveraged bolt on strategy" which didn't work. The debt is now gone and so are the associated servicing costs. The chances of this company failing is now close to nil. This company now makes a profit based on mostly fixed costs and sticky recurring sales at a reasonable P/E of 12.8x. on 1/2 a cent, with top line growth available at around 80% contribution of revenue to income before tax. I expect this may now be a dividend play or the top end of the share registry will make an offer to retail investors to take it private.