correlation, page-14

IMO AJX could have and should have released their revenue for the year to the end of Sept. Because they didn't it suggests to me that they have booked minimal revenue to the end of Sept and fear the market would extrapolate the result for 3 quarters out to the end of Dec and come up well short of their US$18.5m target.

I say should have because they are well aware of the debate in the market place surrounding this target and if they were on track they should have been more than eager to reassure the market with hard revenue figures. But they didn't. So IMO this raises doubt in my mind that they will achieve their target by the EOY. If they miss they probably will achieve the target in Q1 or Q2 2017, but the damage would have been done as far as credibility is concerned and they will be pushing the proverbial up hill to regain the trust of the market.