A couple of observations. Income tax expense is calculated in...

A couple of observations.
Income tax expense is calculated in the p&l whenever a profit is made. Income tax payable is in the cash flow statement and if there is carried forward tax losses, no tax is paid, but it is stills charged in the p&l at the first time there is a profit.
The independent expert will have seen emc's budgets and guided $18m revenue for emc in cy18. This number is the closest thing to company guidance and is no where near some of the projections in this thread.
They have not yet announced ordering the second production line yet. Can't see how the first one can be expected to be immediately sold out once it is running given this lead indicator has not been triggered.
Like it a lot though, just think it will take longer than many think to really deliver.