SeaDragon

[Dentie]

Outstanding opportunity for you to enlighten all with the facts.

Like the plant being operational, remember?

Luckily, on occasion, I get to talk to a few people. Thankfully, I have no obligations of disclosure.

[Balance]

Luckily, on occasion, I get to talk to a few people. Thankfully, I have no obligations of disclosure.

Haha - good one.

Almost as good as the attempt to explain away management assertion:

27 Nov 2015

"SeaDragon will commence the new refinery’s first commercial production run in the next few days. The factory will first refine retained stocks of Alkoxyglycerol (AKG) to extract residual Omega-2 fish oils before moving to Omega-3 production later next month [December]." "The board's formal sign-off today of our new Omega-3 factory for commercial production etc etc"

Dentie on 16 December 2015 attempts to brush away Apathy's alert that the plant was not in commercial production - '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.'

Big OOPS - 1 day later on 17 December - The directors came out with an involved and lengthy explanation (and excuses) why the plant was actually not in real commercial production when they said it was!

https://www.nzx.com/companies/SEA/announcements/275318

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Personal opinion after observing investors' behavior - some investors become shareholders of a company and stop becoming objective, preferring to believe everything management throw their way irrespective of the facts and history. So scared of being wrong, they even attempt to explain away clear attempts of double speak or plain failures of management to perform.


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[Balance]

Personal opinion after observing investors' behavior - some investors become shareholders of a company and stop becoming objective, preferring to believe everything management throw their way irrespective of the facts and history. So scared of being wrong, they even attempt to explain away clear attempts of double speak or plain failures of management to perform.

Either that or they are plants by companies to come up with excuses to hoodwink newies.

[Apathy]

Personal opinion after observing investors' behavior - some investors become shareholders of a company and stop becoming objective, preferring to believe everything management throw their way irrespective of the facts and history. So scared of being wrong, they even attempt to explain away clear attempts of double speak or plain failures of management to perform.

Think that hits nail on the head - be negative and you are castigated and potentially thrown out. This company is and will be an unmitigated disaster till the bitter end. It doesn't mean that investors haven't been able to make a decent dollar out of trading the PR spin but at the end of the day a lot of money is going to be lost. Current capital value - $44 m (long way of peak) is double what its worth on even the most optimistic spin. On PE of 18 they would need to be making $2.5 profit to get close to current valuation. Forecasting $10m turnover and a loss on EBIT??? Prospectus said they would be making $1.2m on $10m (from memory) its no wonder original directors, financial controllers, CEO(s), auditors will be all gone by next AGM.

[Balance]

Think that hits nail on the head - be negative and you are castigated and potentially thrown out.

Sadly, so true.

Go through the Pike River and Snakk threads, and there are excellent examples of the 'heads in the sand' as well as 'Stockholm Syndrome' (my term) shareholders' mindset. Good examples too of posters who tried to warn of the problems in the companies and were abused, criticized, harassed and hounded.

Pike River - there were cheerleaders who excused every delay, every cost over run, every mishap (including ordering the wrong mining machines) and every conceivable mistakes & mismanagement. A new poster wrote about contractors tearing their hair out dealing with the incompetent management and was hounded off the thread for being a competitor, down ramper etc etc (usual story).

Be funny but for the fact that 29 miners lost their lives.

Snakk - PR double speak at every turn with this company as promoters and directors sold their 0.5c shares for 2400% profits while the company pumped out the 'good' news. Some shareholders were cheering on the 'good' news and took issue with any negative postings. To the extent that some posters would not believe Handley was selling shares and praised him for donating shares to charity!

[Balance]

Good article on Omega 3 :

http://www.stuff.co.nz/science/74962...e-big-business

Looks like mussel oil is the way to go - $2000 kg vs $20 kg for fish oil.

Bugger that the one already doing it now, Pharmalink, is not a NZ company!

[Balance]

So much for previous management/directors having confidence in future of company :

https://www.nzx.com/companies/SEA/announcements/276332

More selling by director and this one has 440m shares!

https://www.nzx.com/companies/SEA/announcements/276556

[Harvey Specter]

More selling by director and this one has 440m shares!

https://www.nzx.com/companies/SEA/announcements/276556

Concerning. Why even bother selling for $4k

[Balance]

Concerning. Why even bother selling for $4k

The clue is that the sale took place on 13 Jan at 1.5c.

The share price dropped to 1.4c immediately upon his sale and has stayed there since.

Suggesting that someone or some broker knew who was selling and decided to get the hell out before more of that 440m shares could be sold?

[Balance]

https://www.nzx.com/companies/SEA/announcements/276734

Director continuing to sell.