Three weeks tomorrow to get the Dec qtr update and 2020 guidance...

Three weeks tomorrow to get the Dec qtr update and 2020 guidance plus the Appendix 4C.

I anticipate the only inspiring news will be the guidance. 4C will be missing US$20m from IC, and I doubt whether they will be able to include that amount in the annual accounts. My bet is the best they will be able to do is capitalise some costs relating to IC, and thus take some advantage of it. This would be reversed on 1 Jan.

I puzzle over the EBITDA advice. The only interest should be interest received, as there is no debt, thus removing it from earnings will be a negative not a positive. Tax? No profits, no tax, so that means nothing. That leaves depreciation and amortisation, in 2018 accounts was US$200k, so I guess EBITDA is Earnings less Interest Received plus whatever the depreciation figure is. Semantics, methinks.

I agree with others that the share price performance is perplexing, but when I have a look at PET chart the suffering is going on there also.

Regardless of share market mysteries, I can't see how the SP can be kept down in 2020 assuming that some of expected larger scale sales transactions come through that are in the pipeline.