SeaDragon

[kerryo]

Some good news for SEA.

SeaDragon Limited (NZX:SEA) is pleased to announce that an order for two full
shipping container loads of refined Omega-3 fish oil (representing 32,000 kg)
has just been confirmed. This is the first significant order of refined tuna
oil Omega-3 product from our new refinery and represents the culmination of
months of discussions and product testing by the customer.

[podg]

Some good news for SEA.

SeaDragon Limited (NZX:SEA) is pleased to announce that an order for two full
shipping container loads of refined Omega-3 fish oil (representing 32,000 kg)
has just been confirmed. This is the first significant order of refined tuna
oil Omega-3 product from our new refinery and represents the culmination of
months of discussions and product testing by the customer.

I think it would not be unreasonable to describe that as very encouraging and very good news. cheers !!

[winner69]

I think it would not be unreasonable to describe that as very encouraging and very good news. cheers !!

Trust they sold it at more than cost!!!

[Apathy]

Some good news for SEA.

SeaDragon Limited (NZX:SEA) is pleased to announce that an order for two full
shipping container loads of refined Omega-3 fish oil (representing 32,000 kg)
has just been confirmed. This is the first significant order of refined tuna
oil Omega-3 product from our new refinery and represents the culmination of
months of discussions and product testing by the customer.

Given the fact the more they sell the more they lose the only good news here is they haven't sold more.

Based on their published numbers the product is worth $7500 per mt - making it a $240k sale and maybe the equivalent of 3-4 days production. It also comes with the dirty big disclaimer - ' ...margin will be better next time..'

Things must be extremely grim if this warrants a press release.

[podg]

you teenagers, you're so impatient.

[winner69]

They say the annual accounts 'belie the significant achievements of the past year' but the Auditors heavily tag the accounts

Whatever everything seems on track so no worries - have faith

[Apathy]

They say the annual accounts 'belie the significant achievements of the past year' but the Auditors heavily tag the accounts

Whatever everything seems on track so no worries - have faith

What track is that? They are a complete shambles and the report is an embarrassment.

How can you confuse what year you raised $10.9m? Or is it a Freudian slip and they are going to try raise another $10.9m in October 2017 this year?

Obviously they were referring to the October 2016 capital raising - which more than half has gone by March 31st 2017.

They don't have enough cash to see year out on current burn rate (and are sitting on $1.3m less in non cash current assets)

Then there is the auditors qualification on assets - can't support the valuation and failure to hit forecasts would half the value.

I know a dead parrot when I see one

[kura]

I know a dead parrot when I see one

No, the parrot is not dead, it's just pretending to be dead !
What sort of cheese shop are you running here Apathy ?

[ari]

The parrot is definitely not dead, but very, very sick......this report is laughable. Amateurish effort at attempting to polish a turd.....https://www.anzsecurities.co.nz/Dire...spx?id=4602072

[podg]

What track is that? They are a complete shambles and the report is an embarrassment.

How can you confuse what year you raised $10.9m? Or is it a Freudian slip and they are going to try raise another $10.9m in October 2017 this year?

Obviously they were referring to the October 2016 capital raising - which more than half has gone by March 31st 2017.

They don't have enough cash to see year out on current burn rate (and are sitting on $1.3m less in non cash current assets)

Then there is the auditors qualification on assets - can't support the valuation and failure to hit forecasts would half the value.

I know a dead parrot when I see one

And there we have it ... the 18-month death sentence by Apathy easily avoided. The parrot still has wings. and the challenges 2018 await. Perhaps now some of the critics will show a degree of humility, and quietly slip away. That would take a degree of class of course, to admit they were wrong. We shall see ....