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Why invest in Seafarms Group now!, page-24

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Skiman4

549 Posts.

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11/03/22

12:04

Post #: 60136010
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Originally posted by Amused observer: ↑

Care to share the source of your claims?

The funding, the progress and the results due the previous stewardship were abyssmal to say the least. But then the chair was happy on his return on funds, in fact so happy as the chair he sat in a chair all the way through an AGM once not even standing to address other shareholders.

Also quite a bit of the funding you talk about that came from a number of owned companies was debt based initially and that afforded a very tidy return for the owner with little risk. Fair? No...reasonable at the time? Probably not but SFG had no other choice as no-one else would back them.

Interesting article - https://www.queenslandcountrylife.com.au/story/7542440/surf-and-turf-in-the-kimberley/

The share price and its performance over the past 7 odd years is evidence enough. Many have done their doe or tax expensed off the sad lesson learned and others haven't learnt the lesson yet.

In Mar 2015 the share price was about 7 cents, today it trades at about 2.7cents with no splits, dividends, bonuses or any form of return on funds since then.

Not bothered going in to the performance of the existing business in Queensland as the results in the past Annual Reports offer ample evidence in itself. Any argument that free cashflow was used to further PSD is laughable given the chair was sitting above any cash spent with a debt facility that was senior. How nice it is.

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I can't be bothered debating with someone who has just blown in to this forum spouting all sorts of unsubstantiated claims.
I have had many face to face conversations with the Chairman and other directors over the years and made my own assessments.

As a long term shareholder I am happy with my DD even if I am not happy with the current share price.

SFG Price at posting: 2.7¢ Sentiment: Buy Disclosure: Held
14 Upvote

3 Great analysis

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Last 0.2¢		Change -0.001(20.0%)		Mkt cap ! $9.673M

Open	High	Low	Value	Volume
0.2¢	0.2¢	0.2¢	$20	10K

Buyers (Bids)

No.	Vol.	Price($)
32	23129507	0.2¢

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Price($)	Vol.	No.
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No.	Vol.	Price($)
32	23129507	0.002
20	76036025	0.001
0	0	0.000
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Price($)	Vol.	No.
0.003	14764483	12
0.004	4081459	12
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0.006	1118347	5
0.007	200000	1

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Why invest in Seafarms Group now!, page-24

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