Ann: Business Update, page-139

I found out today that no one has held out from paying overdue invoices, they did have a few contracts with long payment terms which is common in China. Hence, the delayed payments.
Revenue has been drastically effected by the combined effects of the usual slow first quarter due to Chinese NY, COVID and then the floods.
I think Chinese relations are not the risk people are making it out to be. PET runs on a mutually beneficial relationship with the Chinese and we are gaining traction in USA either way if you are massively worried about that. They could always move elsewhere if deemed necessary and maybe just export the ample cheap lanthanum from China. Anyway, I am not worried about that and happy to bet against this risk. China is not about to shoot itself in the foot with all foreign investment and money is not hard to get out of China like some people are saying.
Dianchi is still on the cards and not many people understand the size and scope of this project. Id estimate current market cap min per year x 5-10 years.
We have gone from a hugely optimistic share price to an oversold one due to a number of factors. PET is still fundamentally strong and solves a huge growing global problem with no competition. Crazy to think we are at 19.5c really. Great buy if you can look past this short lived depression.
Transparency and reporting needs to be worked on by management and I'm sure they will learn from this experience. I'm picking a bottom pretty soon. The sky's are clearing in China and its sweltering now. mid to late 40's in Shanghai and 90% humidity, perfect algal proliferation weather.