"Saving Lives"TTH1) I took 7 thumbs up as an invitation to...

"Saving Lives"


TTH

1) I took 7 thumbs up as an invitation to repost. Maybe I was seeing signs that weren't there.

2) I also thought that all the misplaced positivity deserved to be taken down a peg or two. I note that nobody looking at AVS going into VA today is saying that it is going to come back to life - despite being a pretty solid and cashflow generative business. As far as I know, the only big issue there is earnout payment commitments to groups that sold their sleep centres into the illjudged rollup that is AVS.

3) As for whispers - you are right that I might have heard a few at some point. I doubt that I will be hearing many more. But the far bigger issue for me than whispers was a) the growing sense that PLT lived from ASX release to ASX release without a great deal of substance between times, and b) the facts that could be deduced from a forensic read of the financials.

4) I am not sure how fair it is to construe PLT as having made heaps of progress only to fall at the last hurdle. For the last two years you (and others here) have chosen to think that PLT is in the process of clearing the last hurdle before the blue sky unfolds. However, it seems that there is always one more hurdle just beyond reach. Go back and read some of your posts from late 2007 to see what I am talking about. The big sales from China were going to start next week. In fact, PLT has scarcely had a commercial Truscreen customer. They have loaded the supply chain up with product (ie. made sure that distributors have stock in warehouses etc dotted around the world) and they have had a few trials completed where product has been given away - but as for hard dollars coming in, scarcely a cracker (at least as at the date that info was provided to the Independent Expert). All that fluff about the number of SUSs per day being used per console was not in an environment where the SUSs were being paid for, instead they were being given away. If Penfold's were to assess my appetite for Grange Hermitage based on the amount that i would drink if it were free they would come up with a very large assessment of market size.

5) I meant it at the start of the point above when I stated "I am not sure". It could be that PLT was poised on the cusp of success at the instant when it went into VA. But I am much less sure of it than you might be.



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I assume that we will get a bit more insight into the state of play when the first creditors meeting takes place in the next few days? Presumably that is Friday of this week or Monday of next?