Why Did Investors Bail?While PLAN kept the legacy side of the business going strong and adding new customers, they were also paying down the debt from the aquisition of APL.
By my calculation, I see the paydown to be approx $4.4 million in 20 months - "to purchase Absorbent Products Ltd. in February 2022. At the time of purchase, the principal amount of this loan was $6,970,000 as was part of $10,900,000 million in total debt procured to make the acquisition. The current balance of the 25-year loan is $6,505,000 and the company has no other bank debt."
With PLAN putting the Brakes On to just focus on the 3 mentioned products will be a cost savings in itself.
Letting Heffley Creek go, PLAN has plenty of Zeolite on hand to choose from. Their main quarry is Bromley Creek with the Z-1 Quarry being tested for an OMRI listing.
Then there is the Sun Group Zeolite claim, that PLAN owns 3% already, with the option of buying upto 50% that is undeveloped which holds a massive historical amount of Zeolite and a highway runs thru it.