Ann: Appendix 4C - quarterly, page-2

Well, ….. I hope the "sophisticated" investors are enjoying watching their money being flushed down the toilet.

After 6 months of promised income from Egypt, the paltry sum of $5K has been received (Whoo-Hoo, ... break out the champagne !!) , while the "corporate costs" for just this last quarter has been a whopping $86K . (Total $112K for the past 6 months)

In the prior quarter (July-Sept) the estimated corporate costs for the Oct-Dec quarter were $18K. A blowout by $378% … !!

What has happened. ? Obviously (& as usual) there is no explanation from the Board, who are either incapable of estimating properly, or are incompetent, or are simply misleading their shareholders , or all of the above, … or, more likely, some unexpected expensive legal costs have bit hard. Hmmmmmm .. watch this space.

Either way, it's not a pretty picture, for PPY's long suffering shareholders.
Sorry folks, there is no light at the end of this tunnel. Just more pain, losses and suffering courtesy of an incompetent Board.

IMHO, this company badly (and very urgently) needs a new broom who is actually capable of commercialising technology, and is not beholden to "the narcissistic golden child"