That growth in cost base is extraordinarily high. Maybe if revenue doubled it would be justified but that hasn't happened. Also with a business like this I would expect a lot of cost scalability. This is missing in the numbers.
I was thinking the recent run up in the share price suggested a strong result. But I don't think so... I could be missing something. Looks like they need to urgently raise cash.
I will sit out of this one for a little while longer
Ann: Preliminary Final Report, page-5
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