Well certainly a very encouraging result, especially those long...

Well certainly a very encouraging result, especially those long termers who are fearing their tech stock was heading down the toilet which is clearly not going to happen IMO thank goodness.

Noteable comments as follows;

"Debt reduction of $1.09 million" which means they've managed this despite the DCB train wreck.

"Debt reduction is ongoing."

"Significantly reducing this cost base."

"Currently scaling up UK operations"

"UK business is being developed as a springboard into Europe and the company sees considerable opportunity here."

"The DCB business is cashflow positive" and I presume the business as a whole is too.

It looks like Neil has managed to steady the ship and plug the holes to turn this around this FY which is a big relief and very pleasing.

Lets hope they deliver the same or greater growth as they did last time which saw them go from losses at 2c to a high of 33 and 44c based on an EBITDA of $9.5 mil.

If they deliver an EBITDA of $4-5 mil, it hopefully won't take them long to lift the EPS, whilst reducing debt.

Spec buy at these levels IMO.