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Thread: SeaDragon

  1. #31
    Reincarnated Panthera Snow Leopard's Avatar
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    Thumbs up A little more information for you

    My comments in Red:

    Quote Originally Posted by blah View Post
    Maybe I'm not reading the financial statements correctly, but from what I see, even if we strip out SNK out of the statements I think it is still very very impressive. I'll need to see more detailed statements and the notes of the statements to be sure though.

    Revenue in FY 2012 was only $15,000 [that was Claridge Capital not SeaDragon]; FY 2013 was $8,999,000. From my limited knowledge of accounting, asset appreciation shouldn't be treated as revenue [it isn't]; or at least should be treated as a separate item [it is]. Lets be charitable and say that it was indeed included in the revenue figures [again it isn't]. Seadragon owns 25m shares in SNK; the share price on 31 March was 0.15c [actually closed at $0.155] - valuing SEA's stake in Snakk at 3.75m at that date. Even if we take the entire $3.75m out of revenue (let alone the appreciation over the previous year's valuation) we are stll left with revenue a healthy bit over $15,000: about 35000% revenue growth.

    However, I have a hunch that this SNK value appreciation has not been included in revenue, since the cost of sales of 7.8m suggests that the 9m revenue solely is trading revenue [correct].

    Having said that, I don't know why there has been no cost of sales for the 2012 year [2012 is for Claridge not SeaDragon].

    I also note that in the balance sheet, the 3.9m figure under the heading "Assets classified as held for sale" I suspect is Snakk [correct]
    SeaDragon was reversed in Claridge Capital so the 2012 accounts refer to what was basically a non-trading shell of a company.

    Reading the commentary will help you.

    Ignore janner he appears to be drunk in charge of a keyboard.

    Best Wishes
    Paper Tiger
    om mani peme hum

  2. #32
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    Quote Originally Posted by Paper Tiger View Post
    My comments in Red:



    SeaDragon was reversed in Claridge Capital so the 2012 accounts refer to what was basically a non-trading shell of a company.

    Reading the commentary will help you.

    Ignore janner he appears to be drunk in charge of a keyboard.


    Best Wishes
    Paper Tiger

    Correct.. PT..

  3. #33
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    A drunken mind speaks the truth,, So they say..

  4. #34
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    SeaDragon may well surprise going forward and the SNK is a handy investment or buffer for them but the high grade fish oil section when fully up and running will be the catalyst for growth.

  5. #35
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    Quote Originally Posted by Paper Tiger View Post
    My comments in Red:



    SeaDragon was reversed in Claridge Capital so the 2012 accounts refer to what was basically a non-trading shell of a company.

    Reading the commentary will help you.

    Ignore janner he appears to be drunk in charge of a keyboard.

    Best Wishes
    Paper Tiger
    Thanks PT - that clarifies most of the questions I had. It would be good to be able to make a comparison with the Seadragon without the Claridge.

    I'll stop wasting my time with Janner, since he still remains unconstructive.

  6. #36
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    Quote Originally Posted by Paper Tiger View Post
    SeaDragon was reversed in Claridge Capital so the 2012 accounts refer to what was basically a non-trading shell of a company.
    Correct. As such any comparison to last year is misleading.

    It will be interesting to see if the statutory accounts consolidate the two companies for the prior year comparables - I am not sure how IFRS works for this. If not, they should to a non IFRS disclosure to assist investors get a true picture of year on year performance.

    Re the investment in SNK - interesting that it is disclosed as held for resale (current asset) which should be an indication of how they view the investment. [Edit (this is incorrect, refer post #52) -It also looks as if the revaluation on the shareholding is taken directly to an equity reserve account so is not going through the P&L.]
    Last edited by CJ; 31-05-2013 at 12:13 PM.
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  7. #37
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    Quote Originally Posted by ari View Post
    Is this the 'Real Oil' this time?.....it's been a long road > Regal Salmon>Queen Charlotte Holdings>Aquaria 21>AQL Holdings>Certified Organics>CER Group>Claridge Capital and now SeaDragon!
    I have actually made money on Aquaria 21 and Certified Organics - but itis extremely hard work and it's playing pass the parcel. Too damn hard for my liking.

    Meanwhile, as in all investments, check out first who are actually behind the company, what are their motivations and what are their track records.

    Enough said in the case of Sea Dragon.

  8. #38
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    Lightbulb Tiger's Course in Reading Company Statement's Lesson 2

    Quote Originally Posted by CJ View Post
    ...It also looks as if the revaluation on the shareholding is taken directly to an equity reserve account so is not going through the P&L.
    Of course at some point I am going to post some massive mistake and you can all tell me I got it wrong but...

    If you go back to SeaDragon accounts the revaluation of the Snakk holding is in the Profit & Loss account, $3M65 near the bottom, it is NOT under revenue which is what blah was querying.

    As SeaDragon pointed out in their commentary and the accounts show they made a loss of $296k from their marine oil operations, but an overall profit of $3M354 because of the Snakk reval.

    Best Wishes
    Paper Tiger
    om mani peme hum

  9. #39
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    Quote Originally Posted by Paper Tiger View Post
    If you go back to SeaDragon accounts the revaluation of the Snakk holding is in the Profit & Loss account, $3M65 near the bottom, it is NOT under revenue which is what blah was querying.
    You are correct.
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  10. #40
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    Smile Well, I have seen just about everything, but I have never seen a ...

    WARNING ON AN UNSOLICITED OFFER FROM ZERO COMMISSION NZ LTD

    for SeaDragon !

    at 2.5c !

    Best Wishes
    Paper Tiger
    om mani peme hum

  11. #41
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    Quote Originally Posted by Balance View Post
    I have actually made money on Aquaria 21 and Certified Organics - but itis extremely hard work and it's playing pass the parcel. Too damn hard for my liking.

    Meanwhile, as in all investments, check out first who are actually behind the company, what are their motivations and what are their track records.

    Enough said in the case of Sea Dragon.
    This is either BS or you are KW, GD, SJ, RG or BW !! because they are the only guys who knew when to "pump & dump".

  12. #42
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    Quote Originally Posted by thedigger View Post
    This is either BS or you are KW, GD, SJ, RG or BW !! because they are the only guys who knew when to "pump & dump".
    Aquaria 21 had a 23 cents put option so as long as you bought under 23 cents, you could not lose.

    I foolishly bought into Certified Organics when they started pumping out the story on broomrape in Australia. Foolishly because I should have known better than to trust the company, no matter how good the stotry.

    Anyway, the stock went for a run - up 40% in a week on the story. Fortunately I caught wind of the fact that the MD was trying to place some of his shares (to some unsuspecting investors) so I got the hell out.

    Made my money and vowed never again.

    A vow I have kept and been very happy about my decision.

  13. #43
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    Quote Originally Posted by Balance View Post
    Aquaria 21 had a 23 cents put option so as long as you bought under 23 cents, you could not lose.

    I foolishly bought into Certified Organics when they started pumping out the story on broomrape in Australia. Foolishly because I should have known better than to trust the company, no matter how good the stotry.

    Anyway, the stock went for a run - up 40% in a week on the story. Fortunately I caught wind of the fact that the MD was trying to place some of his shares (to some unsuspecting investors) so I got the hell out.

    Made my money and vowed never again.

    A vow I have kept and been very happy about my decision.
    Good for you!
    I was more stupid and held on,hense I'm a sharholder in seahorse manure,I think?

  14. #44
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    Quote Originally Posted by kizame View Post
    Good for you!
    I was more stupid and held on,hense I'm a sharholder in seahorse manure,I think?
    There goes the new kitchen :-))

  15. #45
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    Ooops wrong person.. Had three days of.. Still half asleep.. My reference was .. I thought .. To Kiwigold.. ..

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