Share price when trading resumes, page-81

I certainly care that PIL is suspended.

The suspension means that the market is not able to respond to the last two exceptionally good quarterly reports and, as a consequence, the sp is suppressed. That means any capital raisings during the suspension will be at depressed levels. You need to understand that to satisfy the auditors and the ASX in order to have the suspension lifted, PIL needs to raise about $1 million. That will cause undue dilution and harm to us holders.

The crazy part of this is that there is no business case that says PIL needs to raise capital. It will only be done because of some technical and prescriptive ASX policy on corporate solvency. That policy only allows them to have regard for the audit report - drafted in accordance with the Doctrine of Conservatism - and not at cash flow reports, quality of earnings (PIL has lots and lots of high quality small inflows) or demonstrated need for capital (PIL has not had to rattle the can since December 11 so they are relying increasingly on growing revenue inflows).

Essentially, PIL is performing in an exemplary fashion for a tech start-up but, in effect, we are being punished because we are in that tech start-up space of which the ASX, as regulator, has little understanding.