Thanks Clinton, see detailed response from our analyst Ryan Sohn "Revasum has an intellectual property portfolio built up through over 30years of technology development. This by its nature is difficult to replicate and presents significant barriers for new players. The marker is very consolidated with 0-2 competitors in each of Revasums product segments. Importantly these players are extremely large and are focused on larger segments of the market thereby creating a vacuum for Revasum to exploit. Revasum revenue model is dedicated to the construction of new fabs and production facilities. As such, there is a degree of lumpiness to the equipment cash flows, however this needs to be considered with regard to the overall outlook for semiconductors with numerous powerful growth drivers that are only beginning to play out and will likely to support new equipment sales over the long term (Electric Vehicles, 5G and Internet of Things). Revasum also provides consumables and services which by its nature act as a recurring revenue stream. Overlaying this with the low valuation in comparison to its peers and the broader market Revasum provides an attractive investment proposition. "
Thanks James. Although we use many valuation techniques and qualitative assessments for stocks, direct selling (or buying) has always been a strong signal in our process