SeaDragon

[Xerof]

I thought Fortex were more famous for borrowing money & calling the incoming cash revenue ?

yes, that too

[winner69]

Honky dory stuff - next year will be OK so this years report is irrelevant

https://www.nzx.com/files/attachments/259202.pdf

Do they really only sell $4m of stuff - all the hype makes them sound a big company

[podg]

There is absolutely no possibility they will be around in 5 years. At best they have 18 months but that is the outside. Let's be honest if not for the hail Mary from CVT they would have been gone by now (and lets remember that came at a massive discount). Take out the profit made from the Snakk shares and it gets worse. The completed plant isn't to an international standard - should be cGMP and without a fractionation plant it produces nothing the market wants (as sales show). At the end of the day its longevity depends on how deep CVT's pockets are as it isn't going to be cash positive anytime soon. I wouldn't pick on it so much if the management showed even a modicum of honesty but its a farce. New guys got benefit of the doubt but they are just as bad if not worse.

Give me one undertaking they have delivered on? Seriously - how can you keep a straight face and repackage a $4.9m loss and $300k of sales in 6 months as anything other than a total disaster.

Plenty of things out there I am very positive about - NZR (this is cheap) on NZX, MET, MFT, MEL and FRE have been very good to me.. good time to buy on ASX - BHP, VIT, and ANZ has cleaned BS,,

how time flies ..... is it really 12 months since this post ?? surely not. will the next 6 months go just as quickly. Has anyone called the company funeral directors ?? it must be almost over now, either for SEA, or for apathy's crystal ball ...

[Balance]

how time flies ..... is it really 12 months since this post ?? surely not. will the next 6 months go just as quickly. Has anyone called the company funeral directors ?? it must be almost over now, either for SEA, or for apathy's crystal ball ...

Yup - been 12 months and the share price has more than halved during that time.

Those who took heed of Apathy's warnings have saved themselves a lot of grief!

[podg]

perhaps. though the prediction (not advice) made 12 months ago was on the life/death of the company, not its share price. Anyone who took any notice of apathy's words might actually be feeling some relief about now. maybe even a little hopeful.

[Balance]

perhaps. though the prediction (not advice) made 12 months ago was on the life/death of the company, not its share price. Anyone who took any notice of apathy's words might actually be feeling some relief about now. maybe even a little hopeful.

Hard to get too much relief from 50% drop in the sp I would have thought?

[podg]

well it's better than being dead and buried, as per apathy's prediction.

[Xerof]

better late than dead on time?

[Balance]

better late than dead on time?

Haha - maybe better not to be with this mythical sea animal altogether?

[Apathy]

well it's better than being dead and buried, as per apathy's prediction.

They are dead - neighbours no longer complain about the stench of fish its the embalming fluid causing the issues now!
In fairness I am in awe - up 70% since announcement that their second half loss was $140k lower on the back of $2m less in sales.

Market is jumping on the new direction - sell less lose less. Also worth pointing out that first 6 month sales included material already written down prior year (so could have been even uglier) and there is no capital expenditure happening - the critical fractionation plant no longer critical....

Of course maybe its CVT related parties starting to push the value up for June 30 - they really aren't going to want to deal with a .03 cent half year valuation...