Ann: Q2 FY20 Sales Activity Update, page-5

While I think this board are getting some mighty hefty remunerations for a company at this market cap that should be doing it's best to rebrand and turn a new management leaf ($1M comp...? wow), I agree to your point despite slight bump in FY19 revenue, seeing actual GP drop was disheartening (COGS/sales ratio increased from 48% to 55%).

But, this ann indicates more than a 'slight bump' in FY20 revenue. IF they maintain or take on even higher (but surely diminishing) COGS/Sales, and with admin costs growth (which shrunk last FY considerably), we are in super positive profit territory. Especially without $2M impairments from Texas on a $3M FY loss.Will look forward to profit report with you, but all up I reckon RDF looking slimmer than ever as a well-oiled pipeline machine.

Debt-less and cash-heavy, this one of the best sleepers in my portfolio after today's ann.