PET 0.00% 2.5¢ phoslock environmental technologies limited

I wasn't impressed, but had high hopes so perhaps I need to...

  1. 8 Posts.
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    I wasn't impressed, but had high hopes so perhaps I need to lower my expectations!

    For me there are still too many unanswered questions and feels like little progress since the last update.

    China progress - future costs still to be spent on this debacle remain unknown. Lachie loosely referred to the challenge of balancing the need to pursue legal route vs shareholder interests, so this kinda annoys me as they must have a total budget in mind otherwise how can you balance these two things? Shareholders have seen a lot of cash burn while the company is in a trading halt for a year now, so some empathy for this situation could bee demonstrated by showing a firm grip and transparency on costs (particularly while sales are heavily impacted by covid - and also particularly while only 71% of budget has been achieved with 4 months of the year to go)

    Pipeline - I find the numbers they share to be so vague and incomprehensible it's hard to make an informed decision on how they are tracking against FY budget. And dropping a major contract win announcement on the day of your shareholder Q&A reeks of cynicism, as good as the news was.

    Re-listing on the ASX - I learnt nothing today, other than they're happy with the auditor and they've given them an extension. Someone must have a broad timeline by now, not sharing this makes me worry there's more problems to come

    New factory - in all seriousness what else has happened since the last update on this point? This was 3 months ago and they're still evaluating options!? I gather some external consultants have been paid for work in this area.

    China GM - wait what!? the new China GM who joined while the china business was being reset has already resigned!? And now they're talking about another re-structure? Or was the plan all along to have someone join for six months and then start recruiting again. Cmon guys at least come up with a more believable ruse!

    I found the chairman in the last investor call to be a lot more believable and trustworthy. They need to pick up the pace on a lot of things, not just re-listing.
 
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