CSS clean seas seafood limited

death of css and cover up, page-2

  1. 113 Posts.
    I read the entire announcement front to back twice

    At first i thought the fingerlings died but please read below

    Fertilised SBT eggs were also transferred to ****SARDIs facility at West Beach***
    for continuing larval rearing trials and the preliminary assessment of the
    SARDI trials is that they have been ***successful**** and *****achieved their objectives.*****
    The program to date has raised new challenges and the oldest fingerlings
    survived to 38 days old and were actively feeding on live feed. This year the
    company was successful in feeding the larvae their first live feeds, whereas in
    the previous year this was a significant hurdle. The larval rearing staff are
    currently conducting a detailed review of the season to date and are working
    to further refine procedures and programmes before the next spawning.


    It is only the test subjects at SARDI's research facility that died.

    The reason why the share price actually dropped is this
    Bottom page 14.

    If support from financiers and / or equity raising do not eventuate, and / or profits generated do not increase, the going concern
    basis may not be appropriate, with the result that the Group may have to realise its assets and extinguish its liabilities, other than
    in the ordinary course of business and at amounts different from those stated in the financial report. No allowance for such
    circumstances has been made in the financial report.


    Basically if the company doesnt make a profit or get bailed out by bank or capital raising CSS is screwed.

    However... STO was rescued by this guys and so will CSS
 
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