General Discussion, page-2234

Total shares is irelevant when viewed alone.




Above, we can see that in 2018, 2020, & 2023 the company had three significant rises in shares outstanding being 25.56%, 23.35%, and 39.51% respectively.

Stand alone, this tells us nothing except the company has created shares in order to raise funds.

It's how they use these funds to increase shareholder returns that is important.

2018-2019:
Using the below table we can see that in 2019, the company grew unit sales by near 100%, and Net Profit After Tax went from negative $918,000 to positive $1.3 million. Earnings per share jumped from a loss of .43 of a cent per share to an income of .57 of a cent per share.
So it can be said despite the recent increase in total shares, the company used the capital created to be earning more money per share for shareholders and a significant amount at that.



2020-2021:
Using the below table we can see that in 2020, the company grew unit sales by greater that 30%, and Net Profit After Tax went from $3.65 million to over $8 million. An increase in NPAT of 119%. Earnings per share increased from 1.45 cents per share to 2.82 cents per share. An increase of 94.5%.
So it can be said that despite the recent increase in total shares, the company used the capital created to be earning more money per share for shareholders. Again by a significant amount.
Price to earnings ratio in this scenario actually shows that despite the recent growth in shares outstanding, the company was able to use capital to make more money per share, and the shares were actually cheaper. Great value for new buyers.




2023-2024:
What will we see occur? Well, no instant and significant changes like the ones in 2019 & 2021, but shareholders can be rest assured that VMT uses capital invested well as past history has shown. The significant cash injection witnessed in 2023 is likely to benifit share holders significantly again in the preceeding years (2024-2026). Of course, harsher economic times will stall such profit generation but VMT now has another oppurtunity to take advantage of hard times, acquire, trim fat, spend on marketting and R&D, and the sky is the limit.