Ann: Shareholder Newsletter / CEO Year in Review, page-4

Well we obviously get our answer for why the share price has been dropping in this Newsletter.  Cash receipts for the first 3 quarters was $5.74mill (last announced quarter was $3.8mill).  In this newsleteer the following is stated:

So $10mill mentioned means last cy 2016 quarter cash revenue of somewhere over $4.3mill.  This is not an exponential increase over the previous quarter and of course means their forecast invoiced figure of $24mill (US$18mill) will be missed by a fairly long way.  This is a little disappointing for me considering they were talking the $24mill as a baseline figure with an upside much higher.  On the flip side they have said that some of the larger contracts they expected to fall in 2016 will now fall in the first quarter of 2017.  

Unfortunately this does create some doubt.  They will want to make sure that does eventuate because come end of March if it does not, it will create further doubt.  Personally I can see the clear growth ahead, obviously it is going slower than expected (as I almost always universally the case with growth companies), so I am happy to continue to invest with a long-term view approach.  This is definitely a new Australian success story in the making.