Proper undervalued right now- Bell Potter raises price target 7.1% to $0.45 (, page-7

The figures released yesterday reveal how good the purchase of Educational Assessments was back in June 2020 for $1.6M consideration.

Already this FY, JAN has had positive cash flow of $2.3M from the ICAS assessments (rights bought with EA), so the purchase is already paid for. It is likely to grow substantially, as the FY19 revenue was $10M, and I expect JAN to get back to that level and higher before long.

I agree with @Kruiser, JAN has just become profitable. The additional $1M revenue they did not originally expect should go straight to the bottom line. With further growth and growing profits from here, many buyers who only invest in profitable companies will become interested in JAN.

Also, the coronavirus lock downs in other parts of the world are likely to greatly increase interest in on-line home assessments, which JAN will be able to deliver.