Company has said they plan to make as many sales in the 17/18 year as they have ever done. My reading is that sales will double to $3M since revenue is currently $1.5M. Costs are difficult because P&L is unclear. See separate straw. 16/17 P&L said lost $1m on $1.5M sales. Employee costs are to increase. Odotech costs are to come into business. Costs could increase on 16/17 figure significantly because employee costs seem to low. With head count now roughly 30 (leaving Odotech as break-even) lets say employment costs go to $3M from $0.9M (roughly $2M increase). Next year loss would be $1.5M. So if sales increase again in 18/19 by $1.5M then could be break even then. This is probably optimistic given then have $12m in cash to fund growth so I suspect they will make losses for longer. Maybe costs are irrelevant for this business in the short/medium term anyway. They have cash to fund expansion and if they continue to make sales the return on investment will be significant. So too early to make a valuation. It's an educated gamble with a key eye on sales growth.

Costs are really hard to quantify and the company hasn't made any announcement about when they plan to break even. The employment expense in the in P&L for continuing operations doesn't gel with the current head count of 28. Also, the purchase of OdoTech is likely to cloud the 17/18 half year results.