under capitalised needs share issue, page-8

It seems to be good result;
Comparing it to last year:
From Income statement
Revenue has doubled from $23M to $48M;
Finance charges almost none;
Inc amorisation cost from $4M to $6M (non cash item);
Net profit of $6M

From balance sheet
Non current assets has increased (where the cash would have gone to), but it also signifies company has invested in assets which can provide returns over period of time

Only question, I would think is - Unchanged Provisions ( may be mgt do not think, it to increase)


From Cash Flow
Net Cash flow Operating activities has increased (good sign)
Net Cash flow from investing - is high but has reduced significantly to $16.6 M from $21.3M last year.

Still it is high but reducing and mgt will have some plans for it too.

Forecast EPS in 2011 and 2012 are much higher and co is moving in direction to achieve it.

I think, it is good result overall.