SeaDragon

[Balance]

First one is hard to prove but would be naive to think otherwise (the honesty track record isn't great) wouldn't have been an issue if they hadn't used it for PR purposes.

Second one is much easier to prove and it has been raised with appropriate authorities.

The second one is serious shxt - appreciate you keeping us informed on this.

[Crackity]

And Dentie is here to patronize everyone he assumes incapable of forming on judgement on negative comments. Dentie is of course actually Hungarian for Ostrich. Though it is interesting to note

and interestingly enough in a weird twist Ostrich ( well Austrich to be precise ) is Hungarian for oral surgeon.

spooky eh possums

[Dentie]

First one is hard to prove but would be naive to think otherwise (the honesty track record isn't great) wouldn't have been an issue if they hadn't used it for PR purposes.

Second one is much easier to prove and it has been raised with appropriate authorities.

Thanks Apathy.

For the first one, I think it is naive to think that Seadragon may be the only company in this position....if in fact it were true. How many times do you see large volume parcels of shares being sold just prior to a "negative" announcement or, vice versa? For me, as an investor, I want to know when management are buying stock of their own company, so I see that type of announcement as "material" - I do not see it as a PR stint.

In this case, the SP actually dropped after the management announced they were buying in and, despite the Comvita announcement, the SP still didn't rise significantly until they announced the half year results & had completed the factory. These were part of the same announcement so who knows, maybe it was the results that sparked the market? IMO, they weren't half bad.

As for the second one, I applaud you for having the conviction to take it to the authorities. But re-reading the announcement, I'm not so sure it is as clear cut as you say - it is possible for a factory to be termed "operational" but not actually "operating". Nevertheless, I will be very interested in the outcome.

[Scooter]

Thanks Apathy.

As for the second one, I applaud you for having the conviction to take it to the authorities. But re-reading the announcement, I'm not so sure it is as clear cut as you say - it is possible for a factory to be termed "operational" but not actually "operating". Nevertheless, I will be very interested in the outcome.

In the interim report that was released to the exchange on 27 Nov, the first section on page 4 reads 'our new $9.2 million Omega-3 fish oil refinery in Nelson is complete. And, as we want to press with this report, it was due to embark on it's first commercial production run, capping off several years of hard work towards this goal' and then in column three page 4 'SeaDragon will commence the new refinery's first commercial production run in the next few days.' Then they also say commission testing if the plant was completed in October.

I read all these comments with interest

[Tsuba]

Well said Dentie.

[ari]

"Today we push the green button and commercial production starts"........well that's what the vid says off Seadragon site.

[Balance]

Well said Dentie.

As well said as this in Nov 2014 when sp was 3c?

"Today's "update" announcement continues to give confidence that "everything is on track". Good to see the new factory construction is now underway and new appointments in key positions. New factory will contribute with meaningful $$$ in second half of 2016. Ross has his feet on the ground though - especially in respect to the reliability of supply of raw material. They are not sitting on their hands in the meantime ... attending shows etc.

All good signs.."


Ps. All the signs turned out to be bad - and they were busy sitting on their heads?

Ouch!

[Dentie]

I think the big message here is simply ... "hey, our new factory has been tested and cleared for operational use. We can now start refining heaps of Omega 3 oil, which will put some decent wheels under our business plan". Just because it is operational doesn't mean Omega 3 oil will start cascading from the vat taps on day one.

I think some may be getting themselves embalmed with semantics to be honest and others don't seem to want to let go of the past. For me, the half year results were very encouraging and I am looking forward to the next lot of results being the same. On the info we currently have, I am sure the new factory will ensure that will be the case (subject to unforeseen events of course).

[Dentie]

As well said as this in Nov 2014 when sp was 3c?

"Today's "update" announcement continues to give confidence that "everything is on track". Good to see the new factory construction is now underway and new appointments in key positions. New factory will contribute with meaningful $$$ in second half of 2016. Ross has his feet on the ground though - especially in respect to the reliability of supply of raw material. They are not sitting on their hands in the meantime ... attending shows etc.

All good signs.."


Ps. All the signs turned out to be bad - and they were busy sitting on their heads?

Here we go again ...

You just make sure you get your dosh out before it all crashes Balance (if you haven't already of course).

[Apathy]

I think the big message here is simply ... "hey, our new factory has been tested and cleared for operational use. We can now start refining heaps of Omega 3 oil, which will put some decent wheels under our business plan". Just because it is operational doesn't mean Omega 3 oil will start cascading from the vat taps on day one.

I think some may be getting themselves embalmed with semantics to be honest and others don't seem to want to let go of the past. For me, the half year results were very encouraging and I am looking forward to the next lot of results being the same. On the info we currently have, I am sure the new factory will ensure that will be the case (subject to unforeseen events of course).

The original release was very very clear "today we push the green button on the new factory and commercial products start"


Today's releases contain a significant back tracking on the original statements and apparently the 'final stage' of commissioning didn't start until December 6th. Further they have identified issues which will see out of action till 11th January at which time 'final commissioning' will recommence.

Getting closer to telling the truth but not there yet. You do not announce a factory is complete and producing commercial product until it actually is.

Other giveaway is they don't know what final cost will be?? Bit strange if it is complete?

Also note - that with December all but done and dusted and only three months left on their financial year they are reaffirming year end forecast...