The ramp up in the revenue run rate to $4.5m in 4Q18 augurs well for the coming year, helping validate the Company’s FY19 guidance for >$17m revenue and $3.8-4.0m normalised EBITDA. This is in line with our prior expectations, and our forecasts are little changed. Further, the capital structure will be simplified in the future once the Con Notes are converted, and existing debt is consolidated under a new $15m Macquarie facility.
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