I am not 100% sure, but from memory the one time write back of...

I am not 100% sure, but from memory the one time write back of the aust tax losses in the P&L has already been booked in the accounts. The US company will no doubt be in a tax loss position for some years yet.

Regardless of tax positions and recognition of tax assets, if the US operations continue to grow topline sales, a key financial fundamentals driving SP remains the underlying profitability of Aust (excluding US losses). You cannot expect the US to be profitable for at least a few years and arguably you wouldnt want them to be anyway given the company should be investing in growing a massive market opportunity. Overall profitability of the group is not important, what is important for future SP growth is profitability of aust and essentially top line sales growth in the US. I suspect they have entered the US knowing that overall cash flow will be nuetral or softened by the growth in existing and future Aust cash flows.

I am topping up back to my original holding position based on the US early success, I am pretty amazed they have been able to deliver revenue so quickly, a huge endorsement in a market thats hard to crack.

I am also somewhat shocked at the lack of SP bounce on the US news, but hey do I care gives me a chance to buy some more at value. Good luck!