I will interject on your question 1 :
"How can shareholders measure the progress of the company as turnover - given the very low reported gross margin isn't a real measure at the moment."
Revenue growth is the main KPI I use to value a company that is not cashflow positive ,as you mention gross margin is not a real measure at the moment .
Apart from revenue and the ratio the company has as liquid assets compared to short term liabilities I can not think of better KPIs to use .
TO me the reason the company value got to over $1.00 was due to the expectation of imminent military contracts for fire retardant (FR) clothing , now there is little value in the sp being ascribed to FR - maybe that value is being discounted to high ?
AJX Price at posting:
48.5¢ Sentiment: Sell Disclosure: Held
