Agreed @WHY and I wouldn't be surprised if in 6-12 months time...

Agreed @WHY and I wouldn't be surprised if in 6-12 months time they expand the size of the debt facility quite considerably.

They have $12.5m remaining in the current facility and are collecting around $1m/month. On rough figures they deployed about $5m in FY15 to achieve revenue of $11.6m and EBIT of $4.1m. With the debt facility and current rates of collection there is more than enough capacity to deploy double the funds in the next 12 months, more if they want to be aggressive.

MML could quite conceivably have a debtor book of $50m in 1-2 years time.

Of course, the market will take time to realise this growth story but if I'm correct JKL will be quite aggressive in deploying additional funds almost immediately. When the market gets an idea of how quickly the debtor book (and thus revenue and earnings) are growing the growth story should start to become clear and a re-rate should occur.