$15m - $20m is not reasonable to break even if you are using a margin of 20%
20% of $20m is $4m gross profit. and expenses for the first half of the year alone were $3.3m so it might be a loss at that level.
Margin achieved by AJX in the first half of the year was 30% so perhaps use that as a base.
Operating expenses of $3.3m in the first half so say $7m for the full year.
This would mean approx $23.3m to break even.
Might as well say $15m to $25m to break even.
ok my estimate is now the valid figure!
ASX Today, page-502
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