"The technology is on the verge of being licensed to a number of northern hemisphere shipping companies, which would be Neptune's first reliable source of revenue.
Mr Harrison declined to make a prediction about this year's profit, instead forecasting a pick-up in cash flow when licensing systems were in place.
"We are about to sign licensing agreements in Denmark and are similarly close to one in Asia," he said. "We have even had a lot of interest from the US Navy."
But the big tickets could come from ageing oil and gas infrastructure off India. Underwater repairs to pipelines can cost upwards of $1 million a weld. "
Straight from the horses mouth (so to speak), from a report in the Australian newspaper last week.
NMS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
