OCC Trading, page-1605

Kind of exactly my point, only when PNV actually showed positive cash basis sales, that were pretty obviously coming (I was on PNV from <$1 with the Chair's buy-in my posts will show). The writing was on the wall for PNV but it literally had to show positive cash flows. To be honest at $1.3 billion for its business, PNV if anything more shows the under-valuation of OCC.

"If and when OCC sufficiently demonstrate a path to cash neutrality (and/or other positive news) then I'll expect a substantial rerate but until then I reckon we're stuck below 50c." Sorry, have to disagree, and again to my point, I think OCC has amply sufficiently shown "a path to cash neutrality". Were it not for R&D, mainly to get Remplir to market in the US as well and really send revenues exponential, OCC would be cash flow positive already as demonstrated in its last Appendix 4C. Surely?

And sorry, but afraid I have question the "The Striate royalty payment was great but it was a one off." Its actually an initial payment for an ongoing revenue generating manufacturing contract and (rightly) gets regularly recognised on an accrual revenue basis in addition to growing Striate sales. I am sure just semantics, and you weren't implying Striate effectively sold for a one off payment?