A lot has happened since 2015. The company is now doing at least...

A lot has happened since 2015. The company is now doing at least $10 million in revenues per quarter and is expecting to be EBITDA positive for the current financial year. Year on year revenue growth was up substantially from 2018-2019 and for the last quarter was:

$9.9 million revenues
$1.2m EBITDA up 335% yoy

with $3.6m cash in the bank (up $500k in the quarter).

FFT acquired another publicly listed company, MSP (formerly BQT solutions). They also acquired a private secure logistics company, AVA. They do things like move gold bullion and banknotes from mints around. The company was merged and re-organized into the AVA Group, with 2 divisions:

Technology (FFT + BQT)
Services (AVA)

Over the last three years there have been significant changes to the senior management and board. Today's team are executing well and the combined company is growing rapidly. They are starting to leverage cross-division synergies where their customers have a general interest in risk management and AVA has a suite of secure solutions to offer.

Recently AVA announced they had shipped their first batch of systems to India for a deal they closed in 2019 to secure data centres for the Army. Including ongoing parts and service this deal is valued at $25 million+. They have also announced several other significant contract wins in India, and the Indian government has publicly stated their intention to use smart fence technology in securing their borders. The company may also win contracts through its partners for the US/Mexico border wall which is likely to be completed during the next Presidential term.

FFT have also expanded out of secure perimeters to pipelines. There have been a spate of terrorist and theft attacks on oil pipelines worldwide and AVA have announced several wins in this space.

They are winning these deals because they have the best technology of its type in the world - not my opinion, something that keeps getting proved in extensive comparative field testing by military and other security customers. India is a far more high-tech nation than Australia, they don't mess around with something like this. AVA beat everyone.

The new roller-door lock has been winning awards and the company announced negotiations on a large production volume deal in North America for this product, though that hasn't been finalized yet. There has been a consolidation of their R & D center to Auckland which is expected to save around $1 million per year in costs.

The Aura fiber-A.I. product has its second generation released, Aura AI-2. Their technology has been adapted for conveyor belts in Aura IQ, and launched first to the mining industry with strong interest and some deals announced already. One to watch, there are many other industries that rely on conveyor belts.

As someone who has traded decent size positions in and out of this company in its various forms over the years, I believe there has never been as good a time to buy. AVA's future is looking pretty bright from where I sit.

Canaccord Genuity recently issued a BUY recommendation with a price target of 22 cents.

https://www.theavagroup.com/investors/management-team/