CER meeting...

[zyreon]

Is anyone going to this?

I would be interested in hearing how it goes if anyone does...

http://www.nzx.com/market/market_announcements/by_company?id=101851

[ari]

Here we go again !


quote:CER
29/06/2004
MEETING

REL: 1213 HRS Certified Organics Limited

MEETING: CER: Certified Organics Raises Capital

Certified Organics Limited has provided the following:

At today's annual meeting in Auckland, Chairman of Certified Organics
Limited, Dr Earl Stevens, told shareholders of plans to raise $2.5 million in
additional capital between now and 2006 to fund the company's rapid
expansion.

The additional $2.5 million in capital will be raised through

- the private placement of 8.85 million shares with Auckland investment and
broking company Ellis Capital at 10 cents a share, raising $885,000 with
subsequent options and

- a 1 for 7 rights issue at 7.5 cents a share, with an attached 1 for 2
options right at 7.5 cents, exercisable before September 30, 2006.

The share placement and rights issue will raise $1.5 million before expenses,
and a further $1 million before expenses will be raised through the options.

The rights and options, which will be partially underwritten, will require
shareholder and regulatory approvals.

Managing Director, David Warrick, told the meeting that sales for the six
months ending June 2004 were anticipated to be over $400,000, 80% ahead of
those for the same period last year.

He also announced that the company had appointed BioCoat Australia Pty Ltd as
its Australian distributor.

He said that, subject to Australian regulatory approval providing the
necessary market access, the company was confident of holding that level of
increase above the previous period's trading through to year end.

"We believe Certified Organics should be seen as more than just a start up
biotech company with a breakthrough invention that has the potential to be a
world beater.

"We have moved out of the ranks of those seeking commercial applications for
their intellectual property.

"We already own the country's best known organic weed killer brand, Organic
Interceptor(TM). It is now into its second year of representation in the
majority of high profile home and garden stores, and other formulations of
our pine extract herbicide are being sold to local authorities and an
increasing number of commercial crop growers.

"We have sold our specially-developed seed eradicator product to the State
Government of South Australia, which is trialling it as an answer to the
world's most destructive weed, broomrape. The success of that trial will be
known by year end and we have every expectation that it will result in a
major long term supply contract."

Dr Stevens announced that he would be standing down as Chairman within the
next three months to better focus on other biological business interests. He
will remain a director of the company.

Dr Wayne Cartwright, Professor of Strategic Management in the Department of
International Business, Auckland University, is to be appointed a director
and will become Chairman when Dr Stevens stands down.

[whatsup]

Did anyone go to todays CER meeting ? in so how did it go, any update?

[zyreon]

they'll probably tell us today?
(last time they had a meeting they reported on the same day...)

damn i gotta move to auckland so i can actually go to a meeting or 2

[duncan macgregor]

Did a bit of research on cer a couple of years ago. The product works okay, the idea is great, but thats all i found in favour of the product. It is not commercially viable, farmers and market gardeners wont use it because of the cost. I found in my trials that to do the same job as other weedkillers it cost over double. Little old ladies living in a flat might buy some because it sounds nice being organic, but real people wont. The rewards that management paid themselves at shareholders expence was another reason against. I disliked the way management seemed to have their snouts in the trough at every turn, getting rich at shareholders expence. Ask a market gardener, or even dare i say it buy some and do your own trials on this dog. MACDUNK

[zyreon]

thanks for the input duncan (can't just have me ramping and raving! :D)

I am thinking it will be better to assess this company when(if?) it starts making sales in the US/Japan [see notes re: special meeting {specifically referring that the issuance of shares to ellis capital is to fund the establishment of distribution networks in US and Japan}]

maybe there will be enough hippies in america to bring sales past the profitability level [:o)];) get Nader to endorse it

[zyreon]

FYI

http://www.stuff.co.nz/stuff/0,2106,3020968a13,00.html