This is not a stock on the radar of many. It will take time for...

This is not a stock on the radar of many. It will take time for the story to become more widely known, but I am happy to accumulate at these levels.

The Total Addressable Market (TAM) for the SNS product suite is huge (total AI market was quoted at $51bn in the Investor Presentation, so even if the direct market for SNS products is only 5% of this, then we are talking a FY22 forecast $11m revenue company establishing itself within a $2.5bn market opportunity) and they are now playing in the largest markets for their products as seen from these recent announcements. The Chicago announcement in my view is very significant as that is a major US city and will enhance credibility and open doors for SNS across the entire US.

I suspect as the sales momentum across all product sets / industries and jurisdictions becomes more apparent through 2022, this will quickly start to attract investor attention. The business model is such that, as these additional sales are closed, a major portion of those sales translate into Gross Profit and the bottom line free cashflow / profit will start to rapidly accelerate. So it will become a growth stock - not just on sales (which so many other tech stocks are judged) but also delivering a "J Curve" P&L. Then we should start to see potential equate to share price and valuation.

Current run-rate costs are $15m pa - so,100% revenue growth in FY23 to $22m (and assuming $16m is recurring revenue contracts) and with some additional cost growth would see this delivering EBITDA of $5m+ with a real revenue and profit growth trajectory starting to be established. In this scenario, you can quickly see the market start to price in future revenue growth and the potential for a large % of new revenues to drop to the bottom line - in which case a share price of $0.50 (market cap $280m) is not out of the question.

The new contract announcements over the next 6 months will be very telling, but I think the past week has just given those who are following this stock a glimpse of what could come....

GLTA & DYOR