Ann: Market Update - Q1 March 2021, page-25

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kingkev

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30/04/21

10:24

Post #: 52837296
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Originally posted by Yis: ↑

the capital raising last year was an absolute sham and raised on the guidance of $70m in sales. It’s honestly class action time. There’s no way this business is coming back - the only China project they have and that they’ve been talking about as their bright spot now won’t pay. We’re still in the downgrade cycle. Revenue of sub $3m per year with no growth is my guess - how much would you value a company like that?

5c per share is 20x overvalued. WOW JUST WOW

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Originally posted by edshann: ↑

In March last year PET claimed (before the cash raising of course) that the non-Chinese pipeline was $100 million. A mirage.

The total revenue in 2020 was only $6.8 million, roughly split 50/50 between China and the rest of the world.

Only $105000 in revenue from customers last quarter, though that is the northern winter with covid as well. Sales are stated at $700000 (presumably the cash will be received in the June quarter) plus the $500000 from Xingyun, So on what is stated the June quarter will have outgoings exceed revenue by a large margin as well. There is no evidence provided that projects outside China will rapidly ramp up to cover outgoings running at near $4 million a quarter. Are there any projects earning in China? What new orders have been obtained elsewhere? Evidence of progress is in short supply.

Mickem does great work identifying projects, but the company needs to start publishing an order book. Otherwise who will invest in a company with nil future transparency, rapidly running down its remaining cash? Without the cash raising last year the company would be history already.

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lets hope ASIC are not looking a gift horse in the mouth.

Some good brownie points to be gained for asic IF THEY CAN GET THEIR SH1T TOGETHER.

PET Price at posting: 24.5¢ Sentiment: Hold Disclosure: Held
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Ann: Market Update - Q1 March 2021, page-25

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Ann: Market Update - Q1 March 2021, page-25

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Chariot Corp unveils plans for Black Mountain "pilot mine" in Wyoming, US; shares jump +20%

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

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