SeaDragon

[bull....]

lol times must be tough why not .5 mil 1 for 1 issue?

[Balance]

1:2 rights issue on 3.146 billion shares on issue = 1.573 billion rights at 0.8c = looking to raise $12.584m

Not very ambitious to raise a minimum of $0.25m?

[Leftfield]

OMG what madness tempted me to include SEA in my 2016 stock pick competition entries!?
Fortunately it's never been part of my actual portfolio.

[Balance]

http://www.nbr.co.nz/article/auditor...enant-b-191049

"Graves said the company was reviewing the terms of their relationship with its bankers and looking at options to raise additional capital "if needed"."

Forgone conclusion more capital raising on the way. Heartland Bank is the prime lender to SeaDragon? Hope it is for resaleable equipment leasing!

This company reminds me more and more of Wellington Drive - difference being they managed to suck in a reputable company Comvita to give them a measure of credibility.

Long hard road full of more capital raisings (with ever changing excuses) for those who stay in.

Ouch!

[bull....]

OMG what madness tempted me to include SEA in my 2016 stock pick competition entries!?
Fortunately it's never been part of my actual portfolio.

hahha me to just a punt have never owned it in my real portfolio

anyway bad news about nz omega3 producers in nz

http://www.nzherald.co.nz/nz/news/ar...ectid=11691794

[winner69]

Why doesn't Comvita just buy this dog?

.

NO NO NO NO NO

Bad enough they even put any cash in in the first place

[pak]

Dear I say it, you were right all along balance. Just managed to get out in the nick of time and still bagged a profit from .009. Looks like it may drop below that now.

[ari]

1:2 rights issue on 3.146 billion shares on issue = 1.573 billion rights at 0.8c = looking to raise $12.584m

Not very ambitious to raise a minimum of $0.25m?

Does this include the 1,126,142,517 renounceable options @.008 or only those taken up?

[Balance]

Why doesn't Comvita just buy this dog?

It's a renounceable rights offer. Are they gonna be listed? I bet Comvita will end up buying them all for .001.

Renounceable means they are going to be tradeable - but terms of issue are important to read beforehand.

It is not in Comvita's interest to support the rights issue if Comvita wants to take SEA over.

Let SEA fallls over and as a convertible note holder, CVT can move in, refinance any debt and take over the assets super-omega3 cheap.

It is very telling that the issue is not underwritten.

[Scooter]

that also could be the reason for such a small minimum of $250k hoping that some share holders will stump up with the $$$ needed without the big holders supporting the offer