Never been more excited about MIK with their actual contract...

Never been more excited about MIK with their actual contract instead of the MOUs.

But is it a right time to go long or short?

As at 31/12/09 MIK holds

Net assets at half-year amounted $2,139,346
Working capital of $1,534,686 (Cash holding and potentially another 180k for the receivable)

Profit margin is depressing so let's not go there.
Gross profit is around 30%

New contract reads something like.
$US25 over 3 years with $1.4m this year

Operating expense exceeded $2mil at half year

Looks like MIK may not be posting any profit this year.

I personally think MIK may have to do another capital injection either by equity or debt.

If that's the case what are your thoughts on MIK?