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Originally Posted by moosie_900
read the edison report for a valuation range taking into account the snk holding
Zoosie, can you post that link?
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Originally Posted by moosie_900
Thank you.
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SEA
30/05/2013 15:35
FLLYR
REL: 1535 HRS SeaDragon Limited
FLLYR: SEA: SEADRAGON EXCEEDS REVENUE FORECASTS
30 May 2013
NZX & MEDIA RELEASE
FINANCIAL RESULTS FOR THE 12 MONTHS TO 31 MARCH 2013
SEADRAGON EXCEEDS REVENUE FORECASTS
Australasia's largest refiner and blender of high-quality,
internationally-certified concentrated Omega-3 fish oils SeaDragon (NZX:SEA)
today reports good progress for financial year ending March 31 2013.
Despite adverse conditions in the supply of raw materials, the financial
results have exceeded revenue forecasts released as part of the reverse
takeover of SeaDragon by the company's predecessor Claridge Capital in
October of last year.
Sales for the year to 31 March 2013 rose to $9 million from $2.3 million in
the same period last year when SeaDragon was a private company. In the year
to 31 March 2012, Claridge Capital reported sales of $15,000.
Losses before tax for the period reduced to $0.29 million from a loss before
tax of $0.71 million in 2012 when SeaDragon was a private company. Claridge
Capital reported a net loss of $0.52 million. At the time of the reverse
takeover SeaDragon forecast sales of $6.21 million and a loss before tax of
$0.54 million.
SeaDragon Marine Oils Chief Executive Ross Keeley said: "During the period we
faced significant disruptions preventing the timely receipt of raw material
and therefore produced lower volumes of Squalene than anticipated.
"However, thanks to the flexibility of our Nelson manufacturing plant and our
reputation in international markets we were able to make up the shortfall
with new, albeit lower margin, contracts to sell Omega-3 rich krill oil."
Profit attributable to shareholders for the group rose to $3.354 million up
from a loss of $0.515 million due a significant rise in the market value of
SeaDragon's stake in smartphone & tablet advertising group SNAKK Media,
inherited as part of SeaDragon's NZX listing in October.
Mr Keeley said SeaDragon's transition to the NZX and the associated
recapitalisation of the business had provided a considerable boost to the
business, putting in place strong foundation for growth. "SeaDragon
Marine Oils has had sufficient working capital to fund raw material purchases
to ensure that supply matches demand, hence the massive increase in revenue,"
Mr Keeley said.
"The business has also been repositioned to ensure flexibility exists in
processing capability to take advantage of new product and customer
opportunities. This has resulted in processing contracts being negotiated for
the production of Krill Oil.
"Relationships with suppliers remain strong, with increased availability of
sustainable raw material over recent months. As a consequence new market and
customer opportunities have arisen.
"The omega 3 market continues to enjoy favourable growth internationally at
7.3% CAGR with the Asia Pacific region leading the charge with forecast CAGR
of 13.4% over the 2011 - 2016, 5 year period.
"The business is therefore well positioned to participate in this market
given its geographic location and the recent approval of the board to proceed
with the refined fish oil processing facility, leveraging off the cache
attached to health products sourced from New Zealand.
The earn-out shares per the sale and purchase agreement for the acquisition
of SDMO's business by SeaDragon, will be allotted to the earnout shareholders
by 31 July 2013.
ENDS
Contact
Ross Keeley
Chief Executive
Tel: +64 29 288 8882
About SeaDragon (www.seadragon.co.nz)
Nelson, New Zealand-based SeaDragon Marine Oils is Australasia's largest
refiner and blender of high-quality, internationally-certified concentrated
Omega-3 fish oils, and fractions. Our oils are sourced from fish caught in
the clean and pure waters around New Zealand, in the Southern Ocean, and
elsewhere. We have more than 20 years' experience processing fish oils and we
are recognised for the quality and purity of our products. We supply health
supplement manufacturers around the world to meet the burgeoning demand for
pure, high-quality fish oils, which are scientifically proven to deliver
significant human health benefits such as lowering the risk of heart disease,
improving brain function and joint health. The majority of our supply is
exported.
End CA:00236881 For:SEA Type:FLLYR Time:2013-05-30 15:35:04
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Great news, but my 102,379 shares, pale into insignificance when you see they have 1,231,733,227 on issue!
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Member
I'm struggling to understand what the following means - perhaps somebody can translate it for me?
The earn-out shares per the sale and purchase agreement for the acquisition
of SDMO's business by SeaDragon, will be allotted to the earnout shareholders
by 31 July 2013.
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I think therefore I am
Originally Posted by blah
I'm struggling to understand what the following means - perhaps somebody can translate it for me?
The earn-out shares per the sale and purchase agreement for the acquisition
of SDMO's business by SeaDragon, will be allotted to the earnout shareholders
by 31 July 2013.
Not checked the details but probably the agreement says that if SeaDragon exceeded a certain level of sales/profit/whatever then extra shares would be given to the original sellers. Basically the initial purchase price has gone up.
Best Wishes
Paper Tiger
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Member
Wow... the numbers are amazing:
Revenue grew by 59893%
Gross profit increased by 7700%
Losses reduced by 43%
Net Profit now 3.4m compared to a loss of 0.5m the previous year.
Not bad in my opinion. I would think next year would be another wonderful year as their expanded capacity comes into operation.
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QUOTE=ari;409841]Great news, but my 102,379 shares, pale into insignificance when you see they have 1,231,733,227 on issue![/QUOTE]
Ever wonder why they have so many low value shares ???..
Why do they not do what NPX did when their shares entered the " Penny Dreadful " arena..
The more suckers that can be drawn in the greater the profits for the very small number of original investors..
Will you be able to use them in margin trading ??? ( Not to be encouraged )..
Of course there will be success for the odd one or two..
Buyer beware comes to mind..
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[QUOTE
Ever wonder why they have so many low value shares ???..
Why do they not do what NPX did when their shares entered the " Penny Dreadful " arena..
The more suckers that can be drawn in the greater the profits for the very small number of original investors..
Will you be able to use them in margin trading ??? ( Not to be encouraged )..
Of course there will be success for the odd one or two..
Buyer beware comes to mind..[/QUOTE]
Yep, I know exactly what you are saying, I've been tied to this lot since Aquaria21 days and I lost heavily, but one day I might just get a little back.
Talk about creative accounting.....I've seen it all!
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Originally Posted by ari
[QUOTE
Ever wonder why they have so many low value shares ???..
Why do they not do what NPX did when their shares entered the " Penny Dreadful " arena..
The more suckers that can be drawn in the greater the profits for the very small number of original investors..
Will you be able to use them in margin trading ??? ( Not to be encouraged )..
Of course there will be success for the odd one or two..
Buyer beware comes to mind..
Yep, I know exactly what you are saying, I've been tied to this lot since Aquaria21 days and I lost heavily, but one day I might just get a little back.
Talk about creative accounting.....I've seen it all![/QUOTE]
Are you into the " Other ".. Low ball shares .. I.e. WDT SPY etc.. ??
Why do you do it ??..
GREED ??
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