"Nothing has changed fundamentally for the company.."
Except revenues were a question mark in January 2010, and now they are $2.4mm USD per month as of December and growing at 200-500% per year.
Except net income was a question mark in January 2010, and now it is 650k per month and 26% of sales as of December, and growing sequentially with revenues.
But other than that, I think you're precisely correct.