Still bids for nearly 32,000 shares in the market. Pity that 31,000 of them offer only $1,00 a share;
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I don't think its even worth a dollar. Name change is required "Convita" I think those bidding $1 are braver than TRA shareholders and that's really saying something !
I hope they manage to stay in business so this dog can still buy their excellent Derma cream product but if they don't there's plenty of other manuka honey producers, (a dime a dozen really) making similar products.
The one thing I lament with this share....if only picking winners was this easy...
Chinese will be looking to average down having paid over $10.00 before. Ouch!
They may pay $2.50 and that is expensive for a stock which has failed to deliver on anything.
Recall the $400m revenue target by 2020?
Capital raising will be required soon enough by the banks who must be pissing in their pants at yet another lending disaster to an agricultural stock - debts have gone from bugger all in 2013 to over $100m today and that's after raising over $100m of new equity over that time!
Hat tip to Forest who took the trouble to drive all the way to the annual meeting a couple of years ago and told us he wasn't happy with the answers to questions he asked. Also kudos to you mate for consistently calling this company out for all its "creative talk" in many forms.
This company has been an unmitigated disaster and management and directors credibility with ALL previous forecasting is in complete tatters.
I would not pay $1.00 for a share in this company. I think its uninvest able.
Surely a private equity buy out is the only way forward from here?
The've snuck the term 'Global Price Harmonisation' in a few times... wonder if it is code for the Australians are undercutting us and we are quietly crapping ourselves.
For such a material N. American customer they 'should have' a decent view on their current stock and future requirements, no reason this couldnt have been forecasted and properly managed...
Still some more pain to be had... they're trying to do a million things at once (so many small scale aquesitions, investments etc) and doing none of the core things right (i.e. pricing, stock management and forecasting). PE could swoop in, clear the decks of the rubbish and turn a decent $.
https://www.nzherald.co.nz/business/...ectid=12207367
Quote:
The company said changes to the way it does business with China, a lack of orders from a major existing US customer, and another poor pre-Christmas honey harvest, drove the company into the red over the six months.