RE:$.50I'm inclined to agree with you that the company is doing very well. As you mentioned, those royalty payments to NRC will end in a year, which will increase cash flow further. The company's increasing cash flow is allowing it to pay off what little debt it has left ($360k), accumulate a lot of cash ($1,363k) and working capital ($2,786k), plus develop new products (one for introduction in fiscal Q2) and make another acquisition whenever one happens along.
The company is on record as targetting growth of 15-20% per year and this would seem to be entirely possible.
Kudos to IWG and staff!