Hi guys. Great comments from everyone - well researched.I have...

Hi guys. Great comments from everyone - well researched.

I have just a couple of points to add:

1. It is true that Kinki University in Japan has successfully closed the NBT (Northern Blue Fin Tuna) life cycle, but has not succeeded with the SBT. This does not mean it cannot be done. Kinki is actually working with CSS on the SBT project, sharing knowledge and experience. Yes, Japan has an interest in seeing this work - why wouldn't they. There is nothing wrong with technology being exported - it just has to be at the right price.

2. The following is a simplistic guide that illustrates the potential upside over the next few years assuming reasonable fish farming success. The 8 times EBITDA multiple is similiar to that of Tassal Group (ASX:TGR), a successful Australian salmon producer. These calculations are post dilution (1 for 8) at a price of 55c based on total shares on issue of 202,112,534 This calc also does not include any increase in value the Mulloway and Kingfish operations (increased value in these operations is not unlikely in these successful operations).

CSS EV Post dilution @ 55c = $111M
Future CSS EV (8 x EBITDA) = $700M

As an investor, I expect to gain an appropriate return for the risk I am taking. If the technology goes offshore eventually (which it no doubt will) and I have made my investment pay, so what? Of course I would like to see the SBT technology stay in Australia (in particular SA - no guesses for where I live), but my primary goal is return.
If it works, the upside is considerable and the market will reward shareholders. It is a big picture story that captivates.

Whether or not the technology goes overseas in the future is not really of concern because the upside in the stock will already be fully valued in prior to that event occurring.

This is a stock for investors who are looking for the large upside that comes with a great story becoming a reality. If you are worrying about whether it will be a sustainable operation 10 years down the track or whether the technology will go overseas in the future your risk appetite is not conducive to this sort of investment - nothing wrong with that, but don't invest in this one unless you are prepared to take the appropriate risk in order to make the big gains.

Stock held - definitely getting amongst the rights issue.

DYOR.