Albuera,
I have been involved in quite a few "turnarounds" since 1980 and in the vast majority of cases, it took at least one and a half profitable years to really reflect in the share price. I have no doubt after June 2010 we will see a much higher price than 1.8c if they deliver on the $8M revenue and report a profit of around $1M. The real explosion in share price will occur once the penny drops that this is an annuity income business with not a lot of risk.
Personally, I would be more than happy with a share price around 3c/3.5c after the June 2010 result and for it to form a solid base there. If they then report a very big increase in revenue to Dec 31, 2010, the price will really start to gain momentum.
You're right though. The market is not prepared to price this ahead of the fundamentals and previous mis-management can be thanked for that.
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