The 1H24 results will be disgraceful beyond words based on todays bitter announcement. I don't think I have seen a larger divergence of likely actual 1H results from that suggested or inferred given the number of positive sales announcements and positivity expressed at the AGM just one month off balancing the books for the half.

Given our net equity was $42m at June 2023, they have managed to blow up between 30% and 35% of it within 6 months!

Well done! Well disguised!

How can they deliver this after making the following assertion at the AGM in late November - quote - "Based on current sales and business development activity being progressed around the world, and the continued tailwinds for the sector, the Group is positive about maintaining continued revenue growth and profitability in FY24."

All credibility lost and on the basis of 'fish go rotten from the head down" - start the clean out with the CEO. He has come across as a true snake oil salesman. The market will go balistic about this!

Moreover my vitriol is probably a thin veil of an excuse for my previous gushing posts on Strawman. Yep. I am going to the 'dunce seat' of the class. Maybe Barnaby Joyce might take me out tonight for some serious 'tired & emotional'. Perhaps Barnaby was talking to Scott Basham the other night, in which case his colourful language is understandable and excused.

Todays announcement means Adelaide is moving lock, stock & barrel to the 31,000 sq ft factory in Columbus OHIO - bad for Australia, brilliant for XTE because we will now have the much vaunted 'Made in America' sticker which is a must have for the USA DoD 'rich budgets'.

Also reading between the lines of the orders to date, they are bascially saying their inventory has been stripped which means the FY23 inventory build up of $25m has been turned over - and its just October...another 8 months to go...and we have major wars on two fronts now! Rough calculations have sales already at $40m v FY23 total sales of $89m

My cracked, suspect crystal ball is telling me FY24 Rev of $100 to $115m & NPAT of $11m -$12m - maybe a maiden FY24 dividend. This ain't one for the ethical investors, greenies, loonies or wokes, nor those who snigger at the line "God I love the smell of napalm in the morning' but war, unfortunately, is a reality, best one be protected, and the XTEK product is very highly regarded.