Ann: Phoslock Production Update, page-23

PET is not paying dividends.

I cannot eat paper profits.

Selling a very small percentage of my shares to take some profits (money I can eat) is not the same as recommending a sell.

As I have said previously, I am overweight PET.
99% of the investment community would say recklessly so, and I would have to agree. Going from reckless to slightly less reckless does not mean that I would recommend a sell. It just means that, as my insane risk starts to pay off I will withdraw some funds, literally to live on. If I don’t eat until we reach $5 I don’t think I will be in a position to enjoy my success.

When I bought IMH(PET) shares 15 years ago I believed that they would reach several dollars per share. I still believe so, now even higher. As we are currently at 75c, I believe this constitutes a very strong buy recommendation. The fact that I have taken enormous financial risk to this point and am no longer in a position to buy does not mean that I would not recommend PET as a buy.

If there is another crazy investor out there who has virtually there entire net worth tied up in this company I would recommend a balanced, gradual plan of re-balancing/profit taking/risk reduction/selling down of your position. Enjoy a little success but for goodness sake don't sell the golden goose.

If you are a little more sane and have some spare funds, I would recommend a buy as I believe that there is still a very long way to go in the Phoslock story.

I believe Edshan that you recommended a sell at 20c or there abouts. That would mean that you are no longer a holder, yes.