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2.5¢ phoslock environmental technologies limited

Ann: Results of Meeting, page-34

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23/01/24

14:17

Post #: 72022904
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Originally posted by Shortblack: ↑

If AKP succeeds, and the odds aren't good, Bart will make enormous profit from that company. If PET becomes a stakeholder, whatever his share might be would be insignificant in comparison.

If AKP goes under, creditors and shareholders get nothing. There are no secured creditors. It has no real assets apart from an office which is probably in Israel; in fact it's June accounts show a negative net asset amount of ($2.3mil) which is pretty much the value of the Goodwill and Intagible assets that they wrote off.

They are desperate for cash to survive.

I can't help thinking this is a last ditch effort to secure working capital to keep AKP going for another 2 years.

Bart is the original owner and biggest investor, basically runs the show. Newing is an investor and spruiker. Van Boheemen is the CFO & company secretary. Freedman is a major shareholder.

Rebuilding PET is not their motive, they couldn't give a rats.

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They should invest in or do a joint venture with CXM, who are in phosphates and should hit it big this year.
Would be a great return for PET some of which they can trickle down to AKP. Although AKPs prospects are not good, if they hang on long enough the AI may solve their manufacturing design flaws.

PET Price at posting: 2.5¢ Sentiment: None Disclosure: Held
3 Upvote

0 Great analysis

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