Thanks again, that's all good stuff. I wasn't able to attend the Sydney briefing unfortunately, so perhaps I've missed some of what Dirk has said. I've read the Petra report once more (so much better than Moelis' effort), and I can only see the following re. customer acquisition (p27):
"Post commercialisation, Alexium management began an on-boarding process with around 80-100 potential customers. After 12 months this list was reduced by half and after a further six months fell to around 20, or the current level of customers.
The point we stress is, this on-boarding and testing has been done. The customers are happy and the business waits for orders. The addition of other products or additional volumes is much easier, as the testing has been done. As the Alexium product becomes more prevalent, the brand strength should also strengthen and deliver greater market reach."
Is this what you were referring to? I can't find any mention of reduced revenues related to customer numbers? Absolutely agree with everything else you've written.
Re-reading the report I was encouraged by the estimated GP 65% margins on Alexicool from July 2017. Great time to be ramping up deliveries. It also struck me that there is so much potential for growth in various sectors. It will only take one or two big wins for revenue to be extraordinary. It's just a matter of converting the opportunities that are already present. Can they do it? I think so.
AJX Price at posting:
59.5¢ Sentiment: Buy Disclosure: Held
(20min delay)