Often heard... but if that's the case they would need to guide for the next 6 years. After which time they will pay and have paid some 50 m for the 25 m loan... or a net 25 m to make it sound better. They raised the cash to use it, so technically we have an EV of 107 + 10 m or so for options, if the cash is used. Or EV is now 7x fy2014 sales. That's what they need to grow into! 80% margin was maybe what the market expected for guidance for 2015? Need that to pay the royalty!
On the company's investor call this morning, they said they had enough cash on hand to reach profitability. Management had always followed through on its projections (which tend to be conservative), so this is wonderful news. It seems largely a matter of waiting now to see how large and how quickly the market for their products develop. With an $82MM market cap, there is a whole lot of upside potential.