I had high hopes for this company and have been burnt badly as a result.As tempting as it is to enter for a bounce trade, I feel any appreciation in price is an opportunity for longer term investors to exit and will be short lived.A quote from another forum sums up the company's prospects:
"As far as I am aware all of the fingerlings suffered a mortality event."
"I am afraid that, in all likelihood, CSS will cease trading. I can't envisage any scenario that may prevent this outcome. Even spawning success in March won't prevent their demise in my view.
The reasons I think they will fail are the following ( not necessarily in order ):
1. SBT - They are able to propagate SBT fingerlings but only very small quantities and the mortality rate is extremely high. They are many years away from commercial production, I would guess 5-10years at best.
2. YTK - After 5 years they have been unable to develop a profitable YTK business. The growth rates and FCR's are appalling and they will never achieve profitability at this rate.
3. Bank Support - No bank, in my view , will loan them any money. It is far too high risk for even the most adventurous banks.
4. Institutional and Foundation Support - Without banks the next line defence is the Insto's. With this latest outcome I believe they will sell out of CSS and will not support any further cap raisings. Even foundation investors like Simplot will desert CSS.
5. Retail Investors - Badly burnt by lack of progress and a plummeting share price even the most stoic investors will be reluctant to provide more funds.
I am sorry I can't paint a more optimistic view for remaining holders but I can only tell it as I see it.
I am no longer invested in CSS so my views are not that of a holder but I can say that I will definately not be buying any CSS shares no matter what the price.
History tells us that very few companies in this position survive. Even the last hope of a White Knight is unlikely because I can't see how they would benefit from purchasing CSS.
Please DYOR and carefully consider all the facts."
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Last
21.0¢ |
Change
0.010(5.00%) |
Mkt cap ! $42.27M |
Open | High | Low | Value | Volume |
21.0¢ | 21.0¢ | 21.0¢ | $1.372K | 6.534K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 24100 | 20.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
21.0¢ | 14844 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 24100 | 0.205 |
4 | 53483 | 0.200 |
2 | 30010 | 0.195 |
2 | 5100 | 0.190 |
2 | 8535 | 0.180 |
Price($) | Vol. | No. |
---|---|---|
0.210 | 14844 | 2 |
0.215 | 4300 | 2 |
0.220 | 36999 | 1 |
0.225 | 52433 | 5 |
0.230 | 100000 | 2 |
Last trade - 10.42am 11/07/2024 (20 minute delay) ? |
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