Ann: Appendix 4C Quarterly (Q2 2023) and Business Update, page-23

Geoffo, what increasing sales?
Based on company announcements and cash receipts for the first six months of 2023, sales look in the $1-1.5m range. The company has advised that these are to Brazil and WA customers.
Sales for 2022 were $3m and mainly to Brazil.
Hence at best PET 2023 sales are on the same level as 2022. Neither are satisfactory to keep PET going.

As for the US, PET is now in direct competition with both SeaPro and Alum. SeaPro has a new 10% lanthanum product. Judging by its social media, they have replaced Phoslock with EutroSorb on their projects. PET US sales team looks like it’s be downsized.
Going from pipeline to sales has provided to be the biggest issue.