Ann: Appendix 4D & 1H FY25 Report, page-51

There has to be something wrong if a solid company of the ASX gets pummeled routinely, when operationally it is successful, is cashflow positive (well just but this is intended to grow market penetration).

In theory DW, Swami, The Board can't do anything about the share price....? Not much except roadshows and state company intentions which they hope the market embrace. They have done and continue to do this. There must be something the market does not like, OR, the system allows questionable operators, practices and processes to profit at the general shareholders expense.

But I think IF regulators want a functional market, with retail investors(*), how can they see constant volatility in companies with stable balance sheets etc etc. How can they preside over those bodies and the market and not address the causes? Surely if the metrics of a Balance Sheet are solid and consistent over time, with there being no material issue over the operations of a company, how can the SP fall 8.46% on reporting, when the headline numbers have been known for sometime and no surprises in the accounts. This occurs time and time again, even without the formal financial accounts being released. This can't be and isn't just happening to PNV.

(*) (I'm not convinced that the regulators do, want retail investors investing directly into companies, I sort of think they want retail to be in managed funds and the like??? Then it's only the big boys and the regulators.


Like many here, I have been here for a long time, the actual company has never been better placed, yet something just is not right. If the market doesn't like the continuation of paying wages and commissions to get sales, then the company needs to be aware. The 2 areas that concern me are (1) decreased growth rate (this does raise the question where will it be in the future), and perhaps (2) the scale of reward to the balance sheet for a growing business, IF the company can't sell their grow the network theme" to the market. What it means to shareholders is a P/E of 157 times profit, maybe the market is just impatient?
Am I impatient, yes but more frustrated and not with the company but the process of the ASX. Capital is at risk, sitting at the whims of market participants, monitored by regulators. I am not sure when the founding fathers opened these markets they ever envisaged such.
I feel the professionals are bored with the current PNV; want more, and when they get more (sales, profits, cashflows), then the share price will rise significantly. One would envisage aspects under the company control to be the catalyst (FDA burns approval, significant explosion of growth in India / Japan/ China?, rollout of new product Qrt3 2026 (1.0-1.5 years away?).
I see no magic bullet here, continued good practice, patience and time. (I'll work on my frustrations!)