Looking forward to a great full report from RFT for the following reasons -

• First half achieved sales of $19m and net profit of $3.7m
• Announced a purchase order for AUD 33m from I-Charging in November last year to be delivered by the end of this calendar year
• Nicholas confirmed that this order was on track in the recent interview on Strawman
• This is just one customer and doesn't take into account other orders/customers
• They increased their inventory by almost $4m in the first half of FY23 to almost $10m in order to fulfil orders.

If they can achieve a similar result for the second half, then their full year result should come in at $7m plus net profit, putting the business on a multiple of around 9. This is too cheap for a fast growing business in the EV space. I believe a multiple of around 20 would be more reasonable.