Ann: Appendix 4C Quarterly (Q4 2022) and Business Update, page-2

Outlook

While leads and opportunities for PET products grow daily, the challenge remains the conversion of these into contracted sales. Therefore, in the shorter-term, the company is forecasting modest growth only.

Longer term, the market for PET’s products and services continues to grow, with water quality issues likely to be prioritised as COVID impacts begin to recede. With new products such as Phosflow expanding the company’s addressable market, and refined distribution models across our geographic regions building new relationships while mitigating risks, the outlook for PET is positive, and the Company expects this to be reflected in the company’s financial performance over time.

The northern hemisphere summer in 2023 will be an important time for the company to secure substantial new projects and help rebuild investor confidence in the Company. With cash on hand of $14.5m at the end of the December quarter, PET remains adequately funded while the business pipeline is being rebuilt.

and with the current economic conditions its unlikely to find new jobs getting signed by Govs that are utterly cash strapped.

I'm still on hold wrt PET.