Standing with Lachie.

As much as I am frustrated as a long term follower and shareholder of PET, I feel that this frustration would also be equally shared by our CEO. He came in and inherited a freshly spruiked business in the midst of a director selldown, Covid, floods and now a seemingly dodgy audit. If this challenge doesn't spur the endeavour then nothing will, this is where leaders thrive.

He backed himself and the vision with a significant investment when he took the reins and I think once the dust settles he will be the one to trudge the business back down the path of success. I think he will very much be a "fool me once, shame on you, fool me twice shame on me" leader.

The positives are that we still have a nice whack of cash in the bank, Algal problems are getting worse, China is still there and one of the big hitters will be that this whole debacle would have surely highlighted the need and importance of securing alternate markets.

At a market cap down to a low of ~150m this to me presents a very good opportunity if pushed and marketed right. This should be a go to product that is used everywhere - lower margins and just bulk quantity and exposure in my opinion. If you have a local pond at your park with blue green then this should be the go-to. If you have a green dam at your golf club then Phoslock should be the go-to. If your city has a Sydney harbour sized lake with Cyno then Phoslock should be the go-to. Towards the start of winter our council drains should be lined with Zeep to catch the first run offs, farms with streams entering rivers should be zeeped - these products should and need to be everywhere.

I hope Lachie has the strength of character to push through this challenge and release the potential that we all know this green business has. The cards have now been dealt and the fine tooth comb is out. I think this will be the turning point and not the end of the road.

DYOR