This is obviously a sad day for shareholders, the perceived...

This is obviously a sad day for shareholders, the perceived great savior leaving. Despite some trying to keep a positive spin on this, it is just a sad outcome.

Why quit now? If this was close to a deal, then quitting now makes no sense at all. Taking the reason given as real, it sort of says BP made a mistake in how quick this would be too bring to market, or how good he thought this technology was (or a combination of both). Billionaires make mistakes just like the rest of us.

From announcement ...
"All shareholders owe a debt of gratitude towards Bill for his investment in PuriflOH". Yes this is very true, as he added $10m to the kitty which effectively negated the need for any cap raise for a couple of years plus raised the SP to ver $2 from around 50c.

The company must now be close to a cap raise of some type with only ~$2.3m of cash left and ~$1.05m of current liabilities as of (30/6/20 from annual report), plus expenses of around $1.2m/quarter.

Today's announcement has certainly overshadowed the annual report, but people should still have a good look at the financials..

A post by someone earlier about the patents, misses a major weakness in this company. PO3 do not own any patents at all, they effectively lease the patents for some applications from Somnio. Failure to uphold PO3's part of the deal could see this company lose those rights, despite spending many millions of dollars on R&D with Somnio.  Of course none of us know the exact details of the contracts/agreements...

The reality is that the technology is not unique, just the design of the pulsed plasma generator, called FRG. There are many versions of pulsed plasma generators already in 'purifiers' around the world, both air and water, being used for a variety of purposes. The others also create a range of reactive oxygen species, so there is nothing unique about what the FRG does, despite what a lot of investors here believe.

Purifloh, when it was WRG nearly 3 years ago had a product, and I quote from the announcement on 12/7/17, ...."Given that the FRG technology is highly advanced, the path to development of the Bluemist (R) product portfolio has been shortened and the focus is now on final design, product packaging, cost and in situ performance evaluation".

In the months after that announcement the share price drifted back to 50c, why shouldn't it go back to a similar level now?

I made good money in this, both trading and some longer term holds, buying after BP became a director, thinking he would get this moving. I lost interest and sold my holding after they decided to go for 'air purification' instead of the water treatments as the first option, plus had failed to reach any of the 2019 goals we were told about at the AGM in 2018.

Technically, this looks terrible, with a high volume day smashing support with a large gap and going to new 12 month lows. Interesting that there was higher volume over the last couple of days before the announcement of the Chairman resigning.