Germany's blaualgen summer, page-4

Interesting and very positive, but I have been looking at this sort of immense potential for 15 years now. It’s not about potential, and never has been, but about conversion of potential, and that is what IMT/PHK/PET has been extremely poor at over the years – until recently. Over the last couple of years I have been holding my breath, daring to hope and waiting for the explosion, all the time watching with frustration the continuing, annual blue green algae bloom in my own home town (still not addressed).

We all know the solution, we all know the potential (although I doubt anybody really comprehends its magnitude), but be careful not to look at a massive potential market (AKA Luxemourg) and assume you will see any signs of conversion into action. (I most certainly do not mind if I am wrong. I am in this to get rich, not to be right).

Having said all that, I do believe that this type of potential is the reason for the current share price. Many have bemoaned the high PE and unjustified SP of PET for a very long time now. This type of focus is missing the point completely. Never once in this company’s history has the share price been justifiable by any PE argument. Even at 2 cents the company was massively overpriced on PE terms as it had never made a single cent in profit. Even though PET has finally begun to turn a small profit, the value of the company still cannot be calculated in PE terms and the current share price bares that out. The market is attempting to predict what will become of the type of potential that has been pointed out by Inchiquin and others. EVERY PERSON WHO HAS EVER BOUGHT IMT/PHK/PET SHARES HAS PAID TOO MUCH BASE ON PE. And this will continue to be the case for some time, until the company starts to mature earnings wise.

The speculation will continue. The share price will continue to rise and fall (hopefully more rising), and the company will hopefully, gradually come up with the goods in regards to the conversion of our potential, and in doing so vindicate and bolster the market’s faith, which will drive the SP higher.