Broker target $1.10, page-2

"10-12 commercial customers preparing for or in the final stages of production scale up using Alexium FR (across Outdoor, Transport, Home Furnishings) all with the potential to close under agreed volume based contracted customers for FR chemistry in the 2H 2015"

Note the lack of military mention, which I take to mean that there's plenty more on top of these.

"We anticipate an update from the company on this customer in the coming weeks could be a major re-rating catalyst for the stock. Previous revenue guidance could achieve monthly revenues at U$200,000-300,000 per month, before ramping up to US$5- 15m on annual basis"

ie when TP's name drops it's going to be obvious to competitors and investors that AJX are the real deal... (still think they'll hold this gem back for the NYSE listing)

" Our site visit during July indicated the company was confident of a maiden contract from the defense activities during Q4"

This one confuses me, didn't we already land a contract for specialty military products? Might also explain the drop of in bookable revenue for CY2015