Not a pretty report, worse than i expected, no doubt why it was posted after market at the latest possible date. I was an owner of CSS for many years. After looking into shares again as an investment choice after a 5 plus year break and actually doing some research rather than "wow that looks cool" i am happy to have sold out recently at a huge percent loss.
Things such as the following just needle at my spine
"in relation to taurine deficient feed supplied from December 2008 to July 2012" P5
"Dr Foster’s contribution in identifying and resolving the dietary deficiency and consequential losses was essential to the company’s survival and the company is grateful for his significant contributions during his tenure" P6
Wow only took the guy 3.5 years to identify an obvious nutrient deficiency that a 20 something master student could pick up in a month.
The importance of taurine in the diets of marine fish has been known for years. Maybe he could have looked at the ingredient list or the diet composition which is provided with feeds.
I am not kidding, I could have sorted this out in about 5 minutes, done it before.
What a bunch of clowns
I await their next major and obvious mistake
CSS Price at posting:
4.7¢ Sentiment: Sell Disclosure: Not Held
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(20min delay)