Ann: October Trading Update, page-11

I topped up today too - another 10000 at 67c. A quality company with quality products,
so obvious when reading the latest investor presentation from a few days ago.
The new streaming and live video products look fantastic. The SP must eventually
go back to pre-Covid at $1+, probably it will just take a couple of good quarters
showing revenues have more or less recovered. But I'm amazed that they are
now reporting that sales for October are already back to pre-covid levels.
The SP is still in bargain territory, in the 50c-70c range where its been during Covid.
Possibly future revenues might take a small hit as Europe goes into lockdown,
but that's only a quarter of their sales anyway. I can't see the US (half their sales)
going into lockdown anytime soon. Aus sales are presumably going up again
after Vic lockdown is removed. Today, Morningstar set a fair value estimate for AMS
at $1.12 (see below), suggesting the SP is indeed much undervalued.

Morningstar Quantitative Ratings

	Valuation Rating	Undervalued
1	Fair Value Estimate	1.120
2	Fair Value Percentage Diff	43.77%
3	Liquidity	High

All IMHO, DYOR