PPY 0.00% 1.3¢ papyrus australia limited

Ann: Appendix 4C - quarterly , page-3

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  1. 118 Posts.
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    Its pretty simple really.
    AAMC did not complete the delivery of the machine to Egypt because ......
    * AAMC has no employees to do anything (depite commitments originally made to obtain the SAIFF grant funding).
    *all AAMC work is now being "managed" (and I use that word loosely) by Ramy, whose previous project management attempts have all been dismal failures.
    * The machines are still in China and nowhere near finished
    * Papyrus have yet to pay for the work completed on these machines thus far, therefore, the partially built machines are securely bolted to a factory floor somewhere in China.
    * The Walkamin machines are nowhere near physically capable of being shipped to Egypt, and nothing is being done to, at the very least, prepare them for shipping to Egypt.
 
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