update and new director

Seems PCE has a busy day so far, with reasonable support for 136,000 and still staying above 6 cents . . many must be pleased about that.

The Annual Report tells a few interesting things as well:-

a) firstly for a company that was in such a dire state the last year and the sale of Assets allowed them to get the financial house in order. Reductions in Assets were more than pro rata matched by reductions in Liabilities

b) it seems that unlike many other company's I follow, the Directors have not been taking cash out of the company. Both the Directors had sums outstanding at the year end.

c) I'd feared a complete write off of IP with the new accounting policies being implementated this year, but it seems the company has at least protected what they had to the satisfaction of the Auditors. The Auditors letter is the best PCE has had for years!! An achievement in itself.

d) regaining the Expectation legal case costs might actually now be drawing to a close

And after the Annual Report I also notice a new Director, Neville Bassett has been apppointed. My guess would be that he is trusted by the prospective financial backers.

And then finally there remains the now often repeated hints about "we've done this and there's more to come" . . .seems the market thinks so too, as sellers seem to get snapped up very quickly if they are within the buyers range.