please explain, page-11

And that Novogenesis has been my point. In the absence of good factual announcements a lot of us have lost too much of our hard earned cash. The comments that I have made in the past have been put together pretty much based on PPY's announcements,AGM information, Landline and newspaper articles. I have tried to eliminate as much of the (PPY) hyperbole as possible to at least put some balance in place. Given that I have willingly given a lot of money to PPY via the sharemarket I have actually felt the need to conduct my own tests to at least satisfy myself that if I were to get back into PPY (which I have always said appears to be on a winner) it will be based on a bit more technical information than what PPY have managed to put out over the years. Even at 8c I cannot be tempted to get back in as there is surely another placement to be offered soon as cash dries up. This would undoubtably drop the share price again. If PPY do indeed show some good sales of veneer or even panels in the next quarter I might be tempted but they will have to show proper sales and at least 2 or so continuous months worth or better still announce a license sale (not linked to a JV or escrowed money). I maintain my sell sentiment.