Appreciate your point of view. Thanks for sharing and I agree,...

Appreciate your point of view. Thanks for sharing and I agree, profits need to show. Profits is really proof of the pudding.

But in the spirit of sharing, I am prepared to buy FLC pre-profts because MABR, and the way FLC has pre-packaged its MABR, is disruptive to the waste water treatment "industry". Hitherto, the centralised treatment method has been the way to go to treat waste water. But as we now know, it is expensive. With the adoption of MABR, the decentralised treatment (DEWAT), in particular the pre-packaged plants afforded by MABR, is going to create a wave of adoption because it brings down capex and opex for operators. China is really showing the way with over 250 plants sold there.

In addition, the pre-packaged products that FLC has pioneered have taken most of the market share globally. The models by Dupont and Suez, which rely on a drop-in method, have not taken off because their products are still addressing centralised plants. As such, sales growth has not taken off as strong for FLC's competitors. FLC is currently dominating the market.

Finally, as Tesla and Amazon have shown, I do hope FLC's equity value will not depend on current or future profits, but instead from a company's ability to be disruptive, provide societal change, or advance new beneficial technologies, even when it is doing so while incurring economic loss. I know. It is a lot to hope for. Hope to hear more of your views.