Ann: XTEK Limited H1 FY 23 Results - Investor Update, page-66

Well put - if it is Regal dumping so be it and farewell. They were smart enough to get in low and even at these prices are well in the black. Trading is their business and good luck to them. The more short term traders exit the more stable XTE should be going forward.

And looking forward in my opinion the fundamentals are strong and a credit to the current management. Revenue is way up and HY losses of more than $6m are now a profit of $6m. The pattern with the current management is to be conservative in predictions. They are now talking $82m revenue full year but there is still a third of the year to run. Investing cash in inventory makes sense to me. Inventory is still assets - inventory makes it quicker to deliver on orders and boost cash flows.

In that regard there is a change in modus operandi here which seems to not be widely recognised. Previously most HighCom sales were to to the trade ie resellers which onsold under their own brands. Now HighCom is selling more under its own brand which means it does get larger lumpy orders but the trade-off is margins are better on such sales.

As scalper said above there have been mistakes previously and I suspect XTE is still dogged by its disapointing past. I remain optimistic but would just like more of those lumpy orders sooner rather than later.