OK, No growth talking here although I will be very surprise if we don't see some in the future years, but just in case, it's all based on current earnings.
1. The current ROIC is 32%, next year it will be 34% and around the end of year 9 assuming the company will be able to finance growth with their own money (they already start doing it by purchasing a property in UK using 1.5m in cash) and when all the debentures will get back their funds it should go up to 83%! its means very very profitable company that can & should grow without the need for any external financing.
2. New R&D projects will start being realized (money terms) at the end of 2017 and 2018.
3. The service segment responsible for more revenues which means higher profit margins which means more captive customers, Great!
4. More revenue expected in the next few years from existing customer at price tag of around 500K per system. (page 9)
5. "in Europe there were four significant wind energy projects and all of these projects adopted our technology" (page 9) - Look up for wind energy projects in Europe, There is a good chance that we will be part of it.
4. The GBP/USD exchange rate written off about $1.1m from assets but even then our equity went up about 10% from 10m to 11m. yearly, about 400k in sales can be gained if the pounds goes up to more historical levels.
5. The company open new subsidiary in Denmark just in case of "Hard Brexit".
6. I simply love the fact that insider directors resigned from the board of directors on the 08/03/17 to make place for new independent directors. (page 17)
