Well the quarterly is not so crash hot in terms of the financial aspect, however we can now see light starting to appear at the end of the tunnel the major point being;
-Components for 2200 NGVS kits are scheduled to be delivered by 31 December 2010. Now these are components so the value will likely not be as high as fully supplied kits, however it is the first commercial quantity we have been waiting for.
-The fact that all Australian staff have returned to a five day week is positive not only for the company but for staff morale.
-Related cash inflows not commencing until 60 days after each delivery date. This will mean that we are not likely to see any meaningful bottom line revenue increase till the 4Q 2010. Next quarterly could be tight again, though i'm hoping we will have a small positive cashflow by then.
Now we need the Norinco co-operation agreement to really produce some meaningful sales. China is a huge potential market for NGVS kits so we need to see this agreement progressed into bottom line figures.
At last I am starting to feel more positive about how things are progressing.
Jia You (Come on) ACE!
ACE Price at posting:
4.4¢ Sentiment: None Disclosure: Held
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