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Ann: Business Update, page-77

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bakker

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31/07/20

10:35

Post #: 46208702
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Originally posted by ahhalla: ↑

Hi everyone,

I agree with both the positive and negative views of most posters/ reaction to this. Considering my average is over $1, and right now I can see this share price plummet easily to the teens, even below $0.10... in fact, I'll be surprise if we see over $0.20 for the rest of this year baring any surprise good news. My paper loss in this investment is so deep that whether I sell now or hang on in hope of resurrection in a few years but risk losing everything, is not very different anymore. So the decision to keep holding is straightforward. But it's now akin to winning lottery.

The negatives: Yes, I feel that the management were criminally negligent and borderline fraudulent. I do not point the finger specifically at the Chinese one, not simply because it's ridiculous to be racist on an investment that should be devoid of emotions. The board are all in this together. They all signed the approval before each formal release. How could they, repeatedly in the first 4 months of this year assure us of a $50-70 target, then as recent as Jun adjust it to $30-40 when they were sitting on $1.2 million this first half a year. Unless they have the IQ of 70 which in that case they should be managing a board of an ASX business.

The positives: I went back and look at the revenues of 2016-17 then 17-18 (before they change the FY) and they were around $11m and $15m respectively. Shares appear to be trending around the $0.10-$0.20 mark, then $0.20-$0.40 mark those two years. Pipeline was nothing impressive like $380m we have now, more importantly, the value of actual confirmed contracts at that point is probably no where close to what we have now. No thanks to COVID and floods, let's hope the confirmed contracts will eventuate in the near future. Without indicating whether this share price is oversold, surely there will be a degree of bad news being priced in. As usual the main players know more about whats going on than what most of us retailers do, in hindsight it now make sense why the selling pressure had been relentless most of 2020.

If there are anyone there in similar position as me, I hope this bring some comfort to you. For those who bought this under $0.10, I will be so tempted to sell if I were you.

Good luck to all holders. Retreating to my little cave and hiding there for the next 2 years. Wake me up when this nightmare is over.

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Totally agree... will join you in the cave....while this market is no place for wimps... really feel for those HC contributors who post great info and analysis ..always much appreciated.. trouble is, PET has let them and all of us down.
Cannot knock those who still hold the faith and guess throwing more money at it in the hope of...??? is each individuals call.
At least I can now concentrate on other parts of the market...hopefully with more success then PET has produced.
GLTA.

PET Price at posting: 22.0¢ Sentiment: Hold Disclosure: Held
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Ann: Business Update, page-77

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Ann: Business Update, page-77

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