Ann: Corporate and Project Update , page-16

It appears atm that the 15% placement rule is being used close to or at the max to meet running costs until more substantial company activity is possible. AFAIK that is what it is there for.

No doubt the issuance of the PPA is subject to scrutiny of the companies ability to do many things including staying in business, so removing shareholder support for the management and removing their source of funding would seem very counter-productive and would be noticed obviously at the PPA approval level. I won't be supporting any such thing btw, much larger forces than a few bleating shareholders who cannot manage their risk levels will determine the companies future. The less support that is shown for management, the longer the process will take imho if at all. Plus any move to slaughter management will fail well before the movers have been slaughtered and composted so why bother even bringing it up. ??*oo*??

I am quite sure Pertamina is capable of doing these projects on its own so Panax has to be able to supply something that Pertamina would like to see occur whatever that might be, putting that at risk is just dumb imv.

I am still seeing the positive side of issuing stock, it is a numbers game after all and although the numbers around the issue are alarming for some they represent an opportunity for others so do not forget that and try to appreciate where that may lead. (closed mind negative responses expected).

Seeing some strange posts these days.... buying one day, trying to shackle management the next. odd...

complaints about updates not being provided then a complaint that the update should have been some days before, seems like any excuse to complain is good enough.

I suggest to all posters that if they don't have anything very new to add or are suffering mood swings then they just keep to themselves.

Merry festive season to all.