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PET - Phoslock Environmental Technologies

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mangojoe said:
Great, instead of having a new pair of eyes on it, they let the same company check... as if they would be motivated to find more dirt than absolutely necessary to save their reputation.
Click to expand...
Chinese Walls?
 
Market update out yesterday and as positive as can be, with some orders from outside of China. It would be nice to have more detail on these orders but I am sure all will be revealed next month



Also approval to extend the time for lodgement of the half-year report for the half-year ending 30 June 2020 with ASIC until 31 January 2021 has been given
 
PET still not trading and will not be this financial year. I suppose the good news is that they have $30M in the bank so they should survive when relisted but my calc's have the minimum SP at $0.048 based on the cash and shares issued alone.

PET Last traded @ $0.245 with a high in 2019 of $1.59 which I don't think we will see for a very long time.

So not much can be done at the moment for shareholders .... Below is a couple of slides I thought relevant from their last presentation but this will get ugly when trading resumes.



 
To me, a clear roadmap isn't just more words...
The ticker reminds me of the Stephen King book/ movie.

 
coming up for two years away.
Clear roadmap provided for reinstatement of PET shares

and ?
 
Since reinstatement to official quotation (16th September) 3 directors have stumped up about $80k between them, and bought shares on the market.

It was suspended for a little over 2 years and the share price was around $0.24 at the time.

Make of that what you will.
Chart since reinstatement.

 
Well that rally didn't last very long but is showing signs of life again.

 
Yes I know ..... it's struggling a little but I'm hoping that the 0.022 yellow line supports it until it's ready to leap higher ?.

 
In accordance with ASX Listing Rule 17.1, PET provides the following information in support of its request:
(a) The Trading Halt is necessary as PET expects to make an announcement to ASX regarding material disclosures in the half year report / review;
(b) PET requests that the Trading Halt continue until the earlier of:
i.such time as PET releases an announcement to ASX in relation to its half year accounts; or
ii.the commencement of trading on Monday, 14 August 2023
 
Let's open a book

The Trading Halt is necessary as PET expects to make an announcement to ASX regarding material disclosures in the half year report / review;
Click to expand...
^ .... 5%
! .... 95 per cent (= ouch)
 
By the looks of the chart, the announcement should likely be very simple:

We are broke.
 
Not necessarily a dead-end @debtfree ...yet... Bit of a tussle between the support area of 2.1c and resistance areas of 2.6c/2.7c established before the trading halt - will be intriguing to see how the tussle unfolds after the trading halt lifts on Monday... hope the video helps in response to a query from several members of our Facebook page.

 
Thanks @IvoryWolf for the video clip, your time and views, it's much appreciated. Yes time will tell as always and if it's bad, I'll just hide my line in the Comp Chart .
 
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