Me Today MEE

[Sideshow Bob]

Might go into liquidation if they cant raise the capital to keep them a float

Almost inevitable I would have thought, without further money or selling some assets.

Directors don't want to get caught trading while insolvent.

Sold $1.4m worth of assets last year and still had negative cashflow of $4.4m, with $0.9m in the tin at the end of the FY as at 30/6/23.

That tin in must be pretty empty now........??

[whatsup]

So now there is no BUY quote I wonder what the fish heads have up their sleeve now ?

[whatsup]

AGM ann today 20-12-23, this will be very interesting, where to now for the fish heads !!

[nztx]

The next reporting period must invoke some further "Going Away" Concerns for the Auditors
after the post balance date 11 July "Further Reduction in Beekeeping" announcement

What will that do to the remaining $4 mil in Customer Relations Intangibles still left hanging after
past impearment knifings from loftier acquisition heights in just how long ?

How's the Financier Life Support faring after recent announcements ?

Boardroom table & chairs being prepared yet to be hocked off or too early ?

[whatsup]

Boyo, IMHO did MEE get fitted out with the honey purchase , I heard that it was shopped around JUST EVERYWHERE b 4 MEE bought it and since then there has been nothing but write downs and imo much more still to come, honey is in storage everywhere in N Z l and across the world as well , NOT GOOD !!.

[nztx]

AGM ann today 20-12-23, this will be very interesting, where to now for the fish heads !!

Turn the lights off and ferry in the Administrators in to sell off Big Honey back to those it was bought
from at knocked down firesale 'take it off our hands' values ?

[nztx]

Boyo, IMHO did MEE get fitted out with the honey purchase , I heard that it was shopped around JUST EVERYWHERE b 4 MEE bought it and since then there has been nothing but write downs and imo much more still to come, honey is in storage everywhere in N Z l and across the world as well , NOT GOOD !!.

2022/23 season on the Bees side looks like a washout with poor recoveries, and more impairment than went into product.

It takes a h3ll of a lot to recover from that, especially when faced with funding into the next season's activities
even on a reduced scale..

A disaster going forwards for an outfit that may or may not have already pecariously balanced on the ropes


Stocks - Note 12 - P21 - 30 June 2023 Accounts:

Raw Materials $10.77 M
Finished goods $2.69 M
Packaging materials 1.3 M

Total Inventory $14.76 M


How long does the stuff unprocessed last - at some time processed to Finished goods ?

If 2023 was a wringer - then 2022 & earlier production on hand ?


Net Revenue for year 2023 is almost totally swallowed by downwards Inventory movement
and Fair value movements on harvested honey and biological assets

That leaves $349K before even reaching Selling Marketing, Distribution costs

EOY 2023 Bottom Line $13.0 M out the back door


Net Revenue for 15 Months 2022 is almost totally swallowed by downwards Inventory movement
and Fair value movements on harvested honey and biological assets

That leaves $697K before even reaching Selling Marketing, Distribution costs

EOP 2022 Bottom Line $19.5 M for the 18 months out the back door


Marketing & Selling Expenses:

In 2023 year $2.97 M to produce a Net $7.88 M Revenue

2022 15 months $3.73 M to produce a Net $8.27 Revenue

All very impressive ... Impossible to Wax Over those reported financials

Lets hope None discover the hidden Royal Jelly store, or it could all be gone in Marketing and Selling costs..



All Up, Pretty impressive for this outfit to be still be standing now after $32.5 Mil of Net Losses
racked up across just Two Years and 3 months

The sticky stuff has some remarkable qualities, which must extend to navigating a slippery slope,
entrapping hopeful stakeholders and a myriad of others lured to a sticky honey pot

Let's hope none get distracted into other unprocessed stuff in the shed and get coned
or badly stung when discovered

[whatsup]

MEE agm today, all aboard for dream land !!

[silverblizzard888]

All the fuss the honey business caused them and now its going back out the door for sale. At least they recognised that it wasn't working, but what a way to burn money, talk about being stung by the bees.

[whatsup]

All the fuss the honey business caused them and now its going back out the door for sale. At least they recognised that it wasn't working, but what a way to burn money, talk about being stung by the bees.

I had heard that the previous owners were trying to flog it off for a long time b4 MEE offered good money from very long suffering S Hers,' what an absolute dud investment this has turned out to be and now there is another C Ring next year in order to stay afloat !!