Is it time to write this off now? or is there a flicker of hope?
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I have not seen this company as a worthwhile investment. Their claims and statements have been silly right from day one and their claim at the start of this business that they were going to source their raw material in NZ, when I knew the NZ seafood industry does not produce the amounts they wanted, put me right off.
But I am very interested to eventually (hopefully) find out what game Mark Stewart is playing here.
If there is a game here it would be called "Delusional Pursuits" its a black hole not just for shareholders funds but common sense and morality... check out the job they are advertising on trade me........ some of the highlights:-
Sea Dragon is a unique start-up. We’re the only New Zealand refiner and blender of high-quality, internationally certified Omega fish oils, supplying nutraceutical and functional food manufacturers around the world to meet the growing demand for pure, high quality, marine-sourced bioactive compounds.
Operating our refinery in stunning Nelson, our future is bright. And right now, we are looking for Process Technicians to join us.
You’ll be joining a team of exceptionally talented individuals from diverse backgrounds, in a cohesive and friendly environment and working with state-of-the-art equipment.
As a start-up, we’re continuously learning and changing - fresh thinking and innovation is not only rewarded here, it’s expected and encouraged.
Not sure 7 years and $50m on the NZX qualifies as a start up.....
100% increase! Nice $100 trade does the trick!
The Annual Report, in all its gory goodness:
https://www.nzx.com/announcements/336535