I agree Ozwire. Where are all the sales, revenue, activity, AND INCOME, that was so proudly promised a couple of years ago. ???
OK, we've had Covid, over the past couple of months, but that is no excuse for zero sales, and revenue. Its an industrial venture, .. not a cafe.
What's more galling is the company continues to offer no reports, no reasons, no forecasts ... no NOTHING to their long suffering shareholders and the - so called - sophisticated shareholders.
All PPY's assets have been handed over, together with an IP licence to an Egyptian company (RA's mates ?) , and furthermore in May 2019 (over 1 year ago) ... the announcement was proudly made , as follows ... "The financial arrangements in the IP Licence are such that the Company is expecting to receive an income stream equivalent to the income stream it anticipated had it remained in a joint venture relationship with EBFC, but without the associated financial risks"
INCOME STREAM ? Thus far the income to PPY has barely paid for a round of drinks for the Board, so it can only be concluded that the Egyptian venture is NOT profitable. Not a great advertisement to potential technology licensees.
... and so the saga continues and this dog can't even raise a yelp.
When will PPY admit the fundamental failure of their "strategy" of not owning, controlling and running a plant, to properly demonstrate the commercial viability of the technology (if indeed it IS commercially viable) , and simply sit back and wait for technology licensing and reaping $ rewards for Ramy's perceived "stroke of genius" over 25 years ago. ???
PPY Price at posting:
1.1¢ Sentiment: Sell Disclosure: Not Held
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