I was think "it melts away to nothing" but that also works.
Printable View
http://www.nzherald.co.nz/business/n...ectid=10837220
The Ecoya meeting this week was a complete contrast to Sealegs. The conservative Northern Club was positively hip as the scent of candles floated through the air, young girls helped shareholders to their elegant linen-covered tables and directors Rob Fyfe and Grant Baker wore smart suits and ties.
Director Rich Frank had just flown in from his home in Beverly Hills and commented that he had to miss the Emmy Awards to attend the Ecoya meeting.
Chairman Geoff Ross gave his usual polished performance. He said the company had excellent prospects and the Trilogy skin care products now generated more sales than the traditional Ecoya candles.
He told shareholders that revenue for the six months to September was expected to be up 16 per cent from the same period in the previous year.
Full year sales were expected to be $26.6 million, an increase of 18 per cent over the previous year, and operating earnings would be above breakeven for the full year.
Ross also said the company would be looking to acquire an additional business in the next 12 months and this would be partly funded by raising new equity.
Why is Fyfe leaving? His reason seemed a bit light to me - its not as if he will be wastin his day in the dole que waiting for a new job.
https://www.nzx.com/files/attachments/185949.pdf
Running way behind forecasts now but wait for this ..
Promotors and directors provided consultancy and management services to the company and paid themselves $1.349m in fees in the last 18 months.
They must have been crying into the Moa beers as they reflect on how they let shareholders down?
the product looks have a future.., just not sure the people can execute or now
Yeh Balance, they really need to trim those sales and marketing expenses. At 5.3m for 6 months to achieve sales of 13.5m it's just too costly - as much as the Cost of Goods
Franceska Banga of the Government Venture Investment Fund recently said in a RadioNZ interview that they "got comfort" in Moa because the main person involved in that venture, one Geoff Scott, has brand-building experience.
The hog has to say, if Banga and others can't get a name right, what sort of chance do they have in looking after taxpayer capital in developing venture markets, getting more "banga" for their buck, as it were?
Ha. Banga is looking a bit different in these two photos:
http://www.nzvif.co.nz/nzvif-management-team.html
http://www.nzvif.co.nz/franceska-banga.html
marketing expense is alright ..if they can build up to a sustainable volume.