Ann: Quarterly Activities and Cashflow Report-XPE.AX, page-45

A good chunk of the corporate costs n the last quarter will be one off for due diligence on the acquisitions.

For next quarter we have $400k for manufacturing costs so at least that indicates product to sell which means more revenue. It is not just selling the product though it is the licensing and operating costs of running it, especially in the case of JCT that will generate the real profits. In addition there will have been costs pertaining to the new presence in the USA which will also have a lot of one offs in it too. Admin and corporate costs are forecast to fall by $500k in the next quarter compared to this one and manufacturing costs to increase.

So more stuff to sell and more places to sell it from.

With all that in place I am inclined to give management another quarter before I start complaining and selling my shares.

EB