SeaDragon

[Balance]

Anyone make sense of them now wanting to process Omega 3 for a potential customer via a tolling arrangement? Surely that should be the last thing they do as Omega3 is in such high demand etc etc?

[whatsup]

Anyone make sense of them now wanting to process Omega 3 for a potential customer via a tolling arrangement? Surely that should be the last thing they do as Omega3 is in such high demand etc etc?

Tolling, where did that come from ?

[Balance]

https://www.nzx.com/companies/SEA/announcements/288221

Long involved explanation of how they stuffed up so completely with their sales and inventories leading to year end, and why they did not feel they were able, required or appropriate to advise the market how far out they were from their forecasts!

"Shareholders have raised a number of questions about the write down and the timing of our disclosures to the market. So we believe it is important that we address these questions up front. Firstly, why didn’t SeaDragon advise the market that it would not hit its EBITDA forecasts until late April 2016? Surely we should have known that we would not hit the forecasts at least by the end of the quarter?

THE SIMPLE answer to these questions is we DID NOT know 🙄"

Scary! 😳

[whatsup]

The question what I want asked is "how are the Omega 3 sales progressing, are they on target and on budget" life blood of the company that's all.

[Balance]

The question what I want asked is "how are the Omega 3 sales progressing, are they on target and on budget" life blood of the company that's all.

Good luck trying to get a straight answer out of this company - it's only been 4 years of them changing their stories, strategies and above all, excuses for why they have not achieved forecasts and expectations.

I seriously wonder if Comvita knew what they were getting themselves into. Omega3 is no manuka honey which is unique to NZ (and Australia).

[whatsup]

Good luck trying to get a straight answer out of this company - it's only been 4 years of them changing their stories, strategies and above all, excuses for why they have not achieved forecasts and expectations.

I seriously wonder if Comvita knew what they were getting themselves into. Omega3 is no manuka honey which is unique to NZ (and Australia).

Bal easy answer Comv bought into the company for its cheap new processing assets ( new factory) and with every passing month SEA is winding its self into destruction imo, " come into my web said the spider to the fly " !!

[Apathy]

Good luck trying to get a straight answer out of this company - it's only been 4 years of them changing their stories, strategies and above all, excuses for why they have not achieved forecasts and expectations.

I seriously wonder if Comvita knew what they were getting themselves into. Omega3 is no manuka honey which is unique to NZ (and Australia).

They are unbelievable - seriously without any shame at all. The highlight for me was seeing that they aren't actually exiting out of Omega 2 entirely .... just a little bit.

There is no way CVT knew what they were in for.

I thought there would have been some comment on their banking arrangements given they were in breach of covenant.

[ari]

There is no way CVT knew what they were in for.

and now this.....The rights offer is not currently underwritten. However, SeaDragon has
received an expression of interest from a potential investor to participate
in the shortfall bookbuild and the company is at this time in preliminary
discussions with this potential new investor.

[Balance]

and now this.....The rights offer is not currently underwritten. However, SeaDragon has
received an expression of interest from a potential investor to participate
in the shortfall bookbuild and the company is at this time in preliminary
discussions with this potential new investor.

So what does that tell us about Comvita's investment in the company?

[winner69]

Must be OK as they are 'pleased' to announce this offer!!!

They may have gone the whole hog and raised a $1m - save a lot of paper work in the future