Broker Data, page-12

Everything hinges on the next quarterly report which will bring us to the EOFY results.

If trading has occurred as forecasted in the prospectus then this stock is ridiculously under valued. Given the contracted steady nature of their revenues you'd have to have reasonable confidence that they will meet their numbers. The company has not made any noises that conditions have deteriorated

Management are incentivised (given 6m shares) to report a $1.92m NPAT in FY16. In the 1/2 year report they already made provisions for this occurring

<sup>NOTE 13 - Contingent consideration

The fair value of contingent consideration arose from the acquisition of Intiga Security. It has been calculated based on the expected issue of 6,000,000 ordinary shares to the vendors of Intiga Security and the associated probability of the Company achieving a consolidated net profit after tax of $1,920,000 in the year ended 30 June 2016 as per Share Purchase Agreement. At the acquisition date, the Board estimated that it was probable that the consolidated entity would achieve the net profit after tax of $1,920,000 and therefore, a full accrual has been made for the 6,000,000 shares expected to be issued. As the shares are expected to be issued with 12 months, the fair value of the contingent consideration has not been discounted.</sup>

They have also declared their intention of paying out 80% of NPAT as dividends.

Pretty amazing for a company with a market cap of ~$5m

CEO bought $100k of stock back in May @ 4c
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Share price action does not support the story however...

I'm an anxious but hopeful holder. Share holder communication does not seem to be a priority of the company. I hope this is because they are busy focussing on the business!