Lower profit due to personnel added overseas and additional plant / machinery etc. The fact that they turned a profit and money being reinvested in the company is a good thing. FDA approval to be completed by end of the year hopefully, and would guarantee that on this quarter, and next quarter alone, they will generate enough revenue to make a profit for current financial year. As long as they still generate a profit whilst waiting for FDA approval, have no issue with that at all rather than burning money. Testing numbers for current quarter are massive. If $4million in revenue alone for July, would safely say August and September be higher. They keep that up for next quarter which would think would happen due to covid out of control around Australia, then revenue for first half of financial year could be close to $30million. Revenue for 2nd half of year then be icing on the cake. Cant argue with that. All imo.
GSS Price at posting:
$1.49 Sentiment: Buy Disclosure: Held
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