Over 14 months ago the PPY Board announced on 7/7/2017 the...

Over 14 months ago the PPY Board announced on 7/7/2017 the following (about the Egypt factory) to their shareholders ….

"The factory is now complete with installed production line, storage facilities, raw material loading yard, complete electrical & mechanical workshops with stocks of spare parts, effluent discharge systems, fire fighting systems, and full services connected. All necessary governmental licenses and approvals are in place. "

and then the report went on to say...….

"the commissioning team managed to install and commission a complete production line consisting of imported machinery from Australia as well as locally designed and built material handling equipment. Most importantly the team managed to establish a network and infrastructure to harvest and transport banana plantation waste to the factory"

but there's more ..

"To date the outer fibre production is commissioned and is in production
…. Large fibre samples have been processed at the Tahta factory to produce the first ever particle boards with banana fibre. There were no major issues in introducing our fibre into the existing production line. "


and then...…..

"The inner veneering production is now commissioned"

Some other "gems" from this report are …

"The factory in Sohag is designed to produce about 1 million square meters of decorative veneer.

"To date we have had no problems whatsoever in marketing our products. Samples from the sister factory in Australia have been supplied to potential customers in Egypt and abroad and was tested and accepted by all. Customers are demanding products as soon as possible. "

"sister factory in Australia" ??? ... LOL. Who are they tying to fool ?


BASED ON ALL THIS "POSITIVE" REPORTING IN JULY 2017 ABOUT THE FACTORY EQUIPMENT BEING COMMISIONED AND IN PRODUCTION, WITH ANXIOUS CUSTOMERS DESPERATE FOR PRODUCT, …. WHAT HAS HAPPENED IN THE LAST 14 MONTHS. ???

THE LACK OF PROGRESS, AND LACK OF UPDATES, BEGGARS BELIEF.

EITHER THEY EMBELLISHED ALL PREVIOUS REPORTS OR THERE IS CURRENTLY SOMETHING WRONG WITH THE OPERATION, OR THE TECHNOLOGY/EQUIPMENT DOESN'T WORK AND/OR THE PRODUCT (S) ARE NOT COMMERCIALY ACCEPTABLE.

ITS A PITY THE PPY BOARD DOESNT COME CLEAN, AND STOP MISLEADING SHAREHOLDERS.

GRRRRRRRR