Ann: Investor Presentation, page-9

To have a positive EBITDA by Q4 CY19, I estimate that AJX would require sales of ~2.2M in Q4 CY - that's a 100% increase on the March quarterly sales, which would be a massive task. I note they did achieve a 50% increase in sales from Dec to Mar quarterly, so not impossible by any stretch... Also I do believe the company w.r.t margins, in my rough 4C analysis, AJX had borderline or negative margins throughout 2017 and 2018, but have managed to buck this trend - IMO the margins are real... Which also all IMO, suggests if AJX can continue to growth off a profitable base then the company is in a much much better state than it was 2yrs ago just willy nilly giving everyone chemicals for free...