Ann: FY20 Results Presentation, page-5

@ Wise_One - I agree.

Have owned NOV for about 2.5 years now, management are extremely professional, and they have consistently grown during that period - but I believe the strongest growth period is just about to happen.

Some people will be a little "put off" by the approximately $10m loss in the Annual Report, but large amounts of this loss were for interest charges (up $1.3m this year due to convertible notes), share based payments (up $950k), due diligence costs (up $500k), loss on derivative (up $725k) and impairment on the banking licence costs (up $3.01m).

So underlying EBITDA was actually steady year on year - whilst cash flow improved significantly year on year.

And they now have approximately $12.5m in cash on hand.

With the recent VISA & Marqeta & Alipay deals, the Emersion acquisition (which looks to be growing very strongly & is profitable), the massive shift from cash payments to digital payments, continued strong organic growth, and not to mention the potential to be the first public listed Neobank on the ASX in around 6 months (if their RADI application is successful as expected) - there is a lot to like about NOV going forward.

Should be an interesting days trading, but I expect the SP to re-rate up significantly over the next few months / year.