This stock is such a dud, page-6

So basically this stock gets 0.5M per HY of net profit -> 1M per Y
After aquisition of ACWE will get 0.8M net profit per Y and will be a cost of 3.8M (4.75x 0.8M)

This is 1.8M per year on a market cap of 12M
For a PE of 6.6

I think CEO put 250K on the underwrite.

Organic growth is about 20% of revenue?

Found this stock through "The Westferry Fund", it is the biggest stock owned by them.


"AFL Non-Executive Director Peter Johns has advised that his associate,
Westferry Operations Pty Ltd ATF The Westferry Fund (Westferry), will
be taking up its full entitlement (c. $400,000). Westferry currently holds
10,845,300 AFL shares (13.8% relevant interest in AFL)"