Ann: Chairman's Address to Shareholders 30 Nov 2018, page-3

I think you are correct Ozwire.

PPY have effectively given away their assets to RA's "mates" . Makes you wonder what PPY owned assets remain on their balance sheet, plus we can only wonder what backroom deal or arrangement(s) RA has made with EBFC to ensure he's looking after "No. 1" ...…. probably unbeknowns to Ted and the Board.

As you point out the projected sales are really quite pathetic. The actual EBIT after operating costs, must be minimal, and may not even breakeven.

Sadly, the shareholders, including the, so called, sophisticated investors, have been sold up the (Nile) river.

The company will, and can, only survive by selling more shares into the market to newby, unsuspecting pups.

So sad.