Ann: FY23 Half Year Results Presentation, page-7

It's going up because people are hoping that this is a "turning point" in the story.

Overall, the business has grown revenues from 6.8mil in 2020 to a run rate of near 17.5mil in 3 years, while only increasing share count from 60.7mil to 78.6mil.

This is a growth in revenue per share from 11.2cents to 22.2cents. This on its own would seem like a good result.

Now the problem is that previous management didn't do this in a cost conscious manner, which we are now seeing the consequences of.

However, if the new management team and directors can turn this around and achieve cost cutting and margin restoration. It will return to being a growing and profitable business, which should see the multiple rerate significantly.

Add some potential buybacks and you can see what people are hopeful for.