Ann: LaserBond 2020 Annual Report, page-11

I think the biggest thing that I find interesting is LBL have reaffirmed their belief that $40m revenue is achievable by FY22. If this means by 1 July 2022, we should be able to expect almost a doubling in revenue (and hopefully earnings) within 24 months, this also suggests that the revenue in 2 years will be largely the same as the current market cap.

Unless I'm mistaken, we're looking at a business that has relatively limited debt, is profitable (with relatively high margins in a niche space with limited competition) and has a relatively high level of insider ownership with a good track record of achieving forecasts.

Having regard to the above and the approximate P/E ratio of 17, coupled with a return on equity >20% for several years now is, for me, a compelling reason to continue buying.