# WOA - Wide Open Agriculture



## System (9 May 2018)

Wide Open Agriculture Limited is a food and agricultural company seeking to regenerate ecosystems and communities in the Western Australian Wheatbelt by operating a vertically integrated, consumer driven business to maximise long-term, sustainable financial returns.

In implementing this strategy WOA intends to apply a "4 returns" framework on seeking measurable outcomes on each of financial returns, natural returns, social returns and inspirational returns.

The Company currently has and is developing three business streams being:
(a) protected cropping and associated open field operations to grow premium vegetables;
(b) a "Food for Reasons"*™* food brand to market and distribute food produce; and
(c) a regenerative farmland management business.

It is anticipated that WOA will list on the ASX during June 2018.

http://www.wideopenagriculture.com.au


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## Ann (28 February 2019)

*Wide Open Agriculture gains industrial hemp licence for pilot shade-house in WA*

This is not the medical marijuana it is the industrial kind of hemp. We should be growing a lot more of it, it is a very useful product and makes lovely fabric as well as other things. 

".......Traditionally industrial hemp has been used in items such as textiles, paper, rope, fuel, oil and stockfeed. Other more recent applications for industrial hemp fibre include composite building materials, oil and chemical absorption materials, animal bedding, kitty litter, and motor vehicle parts.

Hemp oil is extracted from the seed, and has been used for cosmetics, paints, printing inks, solvents and animal feed. In New Zealand, the cold pressed oil is permitted for human consumption....." More..

 and a chart but there is not a lot to see, early days for this stock.


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## Smurf1976 (4 March 2019)

Up 13.89% today and of note there are very few shares for sale at any price at present.

Looking at market depth, well you could buy everything that's for sale for a bit over $10K so basically nobody selling at the moment.


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## verce (30 July 2019)

WOA has ~70 million shares on issue, with the Top 20 holding approximately 80% of the company.

Current market cap is ~9 million AUD.

WOA is a vertically integrated food and agriculture business and the world’s only publicly listed company adhering to the ‘4 Returns’ mechanism pioneered by the Commonland foundation in the Netherlands.

In early June, initial domestic sales of regenerative, grass fed beef and lamb launched and were pulling in $9000/week.

The online sales portal is about to launch in mid-August. https://www.dirtycleanfood.com.au/






Targeting Singapore next.








There is a general trend towards more vegetarian protein production because meat production, and beef especially, is resource intensive. *This is evidenced by the IPO of "Beyond Meat" in the US which now has a market cap valuation of 13 billion USD.*

*WOA will soon be introducing their own Australian plant-based burger.*









The plant-based 'meat alternative' market is undoubtedly going to continue to grow rapidly over the next couple of decades, and will no longer be relegated to the domain of left-wing millennials.

Karen Formanski, an analyst at Mintel who authored a consumer research report on plant-based protein, said there were no signs of the meat alternatives market slowing, with 38% of U.S. consumers trying to add more plant-based protein to their diet.

Separate to the plant-based burger market, WOA has initiated plans for industrial hemp grown under a smart, protected cropping system in WA. After the trials, WOA intends to provide its own branded hemp-food products, for the healthy snack market, worth $17 billion globally.





For the low market cap of $9 million, this company will be easy on your wallet and easy on your conscience. You will be contributing to the revitalization of our natural environment.

Just my $0.02 - good to see @Ann here also.


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## kenny (30 July 2019)

Might have bolted out of the gate early, @verce  ! Does WOA plan to make a profit like a social enterprise and plough it back into research and more farm assets?

Interesting it's dual listed in Frankfurt.


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## verce (30 July 2019)

kenny said:


> Might have bolted out of the gate early, @verce  ! Does WOA plan to make a profit like a social enterprise and plough it back into research and more farm assets?
> 
> Interesting it's dual listed in Frankfurt.




Hi Kenny

I had to make a post here so that I could enter WOA in the August comp. Ah well!

The next news catalyst will be the online storefront opening up in a couple of weeks, and scaling up into other export markets.

Curious to hear your thoughts on the Frankfurt listing. Is this a good or bad thing? It looks like about 40% of shareholders reside in Germany or the Netherlands.


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## verce (31 July 2019)

Currently the lead collaborative partner in West Australia’s largest industrial hemp trial.

* Considering Ecofibre (EOF) is one of Australia's largest growers of hemp foods with a market cap of 1 BILLION, I dare say at 12m WOA is grossly undervalued.*


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## kenny (31 July 2019)

Hi @verce 

Hard to say whether it's good or bad to be dual listed. A listing primarily serves a growing company as a means of accessing liquidity and exposure to the wider market for the brand. 

I struggled to find any coverage for the FRA:2WO listed stock and would be interested to see the comparison in trading volume between the ASX and FRA stocks.


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## verce (18 May 2020)

Finally a bit of recognition today.

For current reference

Beyond Meat Inc

*NASDAQ: BYND*

*134.16 USD per share*

*Market Cap ~8.3 billion USD
______________*

*WOA Market Cap ~10 million AUD.*

WOA already generating revenue via *https://www.dirtycleanfood.com.au/*


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## Dona Ferentes (19 May 2020)

WOA has been all systems go

though the profit takers have pulled it back from 40c high to a still not shabby 30c. I wonder if the gains will be banked as _a measurable outcome on each of
-financial returns,
-natural returns,
- social returns and 
-inspirational returns?_


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## Dona Ferentes (5 June 2020)

Institutional and sophisticated investors have kicked in A$3million in a single tranche placement at an issue price of AUD$0.27 per share. 

The Placement was strongly supported by a number of the Company’s existing shareholders and introduced a number of new, high net-worth investors to WOA’s share register. Demand for the placement was significant and provides strong validation of the Company’s growth strategy to increase revenue and launch additional products for its fast-growing conscious customer base. 

WOA’s largest shareholder and fourth largest shareholder, both European impact-investment family offices, participated in the placement to maintain their percentage holdings.


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## frugal.rock (28 July 2020)

Woa bringing itself to my attention.


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## Dona Ferentes (9 August 2020)

lots of announcements...
oat milk
carbon neutral grains
plant based protein (with CSIRO)
online distribution

.. only WA focused, and any plans to expand must be limited by Covid restrictions
... a loyal client base willing to pay premium prices?
....no mention of hemp any more


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## Dona Ferentes (12 August 2020)

and more on plant based protein .... looking at LUPINS for their food products. 







> _... Lupin is one of the highest sources of plant proteins available (40%) combined with a high source of dietary fibre(37%)._
> _... Non-GMO, low GI, easily digestible, high in essential amino acids and cholesterol free._
> _... Eco-friendly,low carbon foot-print, low water pollution and critical to regenerative farming systems._



There is a lot of interest, but also along way to go (they are only doing a 200Kg production trial taking place). Mind you, CSIRO and Curtin U on board. The slides in the Investor Presentation are worth a look. 

_*Mick *_, a contributor here and elsewhere, posted this a while ago


> _"I tried growing Lupins as a stock feed years ago on an outpaddock we had on some sandy loam. Cows seemed to like it , but it was s a bit finicky for my liking. _
> _Its a bit fussy in its temperature range. Problem was, the frosts we used to get in the late 80's here made the flowers fall off, and any days above about 32 C also made the flowers fall off."_



All helping the SP surge ahead (and some irony with WOA initially into beef, now into this stuff)


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## Garpal Gumnut (13 August 2020)

Dona Ferentes said:


> and more on plant based protein .... looking at LUPINS for their food products.
> There is a lot of interest, but also along way to go (they are only doing a 200Kg production trial taking place). Mind you, CSIRO and Curtin U on board. The slides in the Investor Presentation are worth a look.
> 
> _*Mick *_, a contributor here and elsewhere, posted this a while ago
> ...



This looks like another Buster Scruggs.

gg


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## Dona Ferentes (13 August 2020)

Garpal Gumnut said:


> This looks like another Buster Scruggs.
> 
> gg



probably more of an Earl Scruggs guy, m'self


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## frugal.rock (17 August 2020)

WOA back...


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## Dona Ferentes (17 August 2020)

Yep, I've been watching this. Quite the unsubstantiated rise.

_The Warped Wall, perchance?_


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## verce (17 August 2020)

Look at this thing go!


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## Dona Ferentes (18 August 2020)

Plant based meat


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## Dona Ferentes (22 August 2020)

there is a 15 minute webinar from WOA, by MD Ben Cole.
https://www.sharecafe.com.au/2020/0...e-sharecafe-hidden-gems-webinar-presentation/

He comes across as knowing his stuff, talks the book well, A couple of takeouts, 3 actually:
*Existing protein *... beef and lamb. Quality branded product (Dirty Clean Food) that has a hook -  _regenerative agriculture -_ that was sold to restaurants has moved to online during Covid ... they are selling it all. Also moving into pork and chicken.
*Plant Based:* Europeans are eliminating soy and almond '_milk_' (about 10 minutes in) so they state .... oat '_milk_' is the way to go. And all those happy vegans prepared to pay for it. $4 a litre in Woolies.
*Lupins *... _highest sources of plant proteins available (40%) combined with a high source of dietary fibre(37%). _BUT, unprocessed, lupins have an inability to gel. New technology they have developed in refining the product, gain the protein benefit and allow it to disrupt soy protein market.

Still only about $50mill Market Cap.
So, what's the problem; is there a problem?
..Broke out from 13c in May, Raised money @ 27c at month end, was around 40c in June / July then whooshka in August. The shareprice has run hard; now $1.39
..A lot of interest - every screen jockey is over it. It is a sexy sector. Carbon Neutral; who could possibly disagree?
..WA based.  Top 20 hold 79% of issued capital; 26% shares held by Board and Management.
..No mention of hemp which was the hot ticket a year ago. Will such promiscuity continue?
..To me a Statement like "_Our business model connects regenerative farmers with conscious consumers_" implies costs are high, but we hope to make that back by charging a lot.

I think it has run ahead of itself (maybe its a Festering Canker?)


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## frugal.rock (23 August 2021)

1 year on almost to the day from last post, this has come back to mind.
Lupins, plant protein, sustainable farming, crop rotation etc seasonal benefit?

Chart seems to have consolidated out, no idea on current company fundamentals though, however, from a different aspect, it would seem producers of plant proteins are buying all raw product available, an undersupply situation. 
Watching out of interest only.
3 year weekly chart, for some perspective since last post at the highs.


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## Dona Ferentes (23 August 2021)

frugal.rock said:


> 1 year on almost to the day from last post, this has come back to mind.
> Lupins, plant protein, sustainable farming, crop rotation etc seasonal benefit?
> 
> Chart seems to have consolidated out, no idea on current company fundamentals though, however, from a different aspect, it would seem producers of plant proteins are buying all raw product available, an undersupply situation.
> Watching out of interest only.



It is interesting, to me at least, that one of the narratives associated with the potash story, and especially BHP committing to Jensen project with its 100+ year lifespan, was the comment that *the move to plant based *will necessitate a lot more fertiliser.


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## frugal.rock (16 September 2021)

I've dipped my toe in for a small amount.
Consolidated chart, Graincorp at all time highs, figured this might have another day in the sun, or three?


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## Ann (22 November 2021)

frugal.rock said:


> I've dipped my toe in for a small amount.
> Consolidated chart, Graincorp at all time highs, figured this might have another day in the sun, or three?
> 
> View attachment 130352




Looks like the sun is shining for you, they have just signed an oat milk deal with WOW. Chartwise it has just hopped over the 200 SMA.


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## Dona Ferentes (23 May 2022)

frugal.rock said:


> 1 year on almost to the day from last post, this has come back to mind. Lupins, plant protein, sustainable farming, crop rotation etc seasonal benefit?
> 
> Chart seems to have consolidated out, no idea on current company fundamentals though, however, from a different aspect, it would seem producers of plant proteins are buying all raw product available, an undersupply situation.




WOA signs a Supply Agreement with Monde Nissin Australia Pty Ltd to supply plant based concentrate Buntine Protein™. 
_• Buntine Protein™ is a high-value, plant-based protein concentrate made from lupin seeds that can be used as main ingredient to replace animal-based ingredients for food and beverage applications. _
_• MNA, in response to the growing plant-based foods sector, will use Buntine Protein™ as the main ingredient to develop various food and beverage products for the Australian market. 
• MNA is the owner of leading food and beverage brands Nudie, Black Swan, Peckish, and Wattle Valley, with a national distribution network covering major supermarkets, independent grocers and food service. It is also the national distributor of Quorn, a meat alternative food product from UK made from mycoprotein. 
• WOA will supply MNA Buntine Protein™ from its pilot plant to support the latter’s new product development (NPD) and test market. 
• It is estimated that MNA will purchase up to 60% of total production of Buntine Protein™  from WOA’s expanded pilot production facility over a two year period. _
_• First shipment is expected to be delivered in June 2022_.  

WOA had drifted, drifted low.. @frugal.rock was spot on. Today's news has seen a 25% bump from 54c to high 60's



frugal.rock said:


> Watching out of interest only.



as was I , and will remain so.

DNH


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## Dona Ferentes (30 June 2022)

frugal.rock said:


> Watching out of interest only.



WOA has lost most of that mid-2020 leg up; now back to 54c

There's always the ABC for a bit of feel-good promotion








						This common livestock feed could soon bulk up your vegan-friendly protein shake
					

A regenerative agriculture company opens a processing facility to turn lupins into protein powder as a vegan-friendly alternative to soy.




					www.abc.net.au


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## Tommy Shelby (30 December 2022)

Share price has slid to $0.19/share for the end of the year - the numbers from the annual report don't look good. It's hard to see the unit economics working in their favour for quite some time unless there is some underlying operational leverage I can't see. 

They've burnt $5m in cash in the last 6 months with $14.6m forecast by Q1 23 end. Current MC of $25m against net assets of $19m of which the majority is cash/inventory is interesting.

Question - wouldn't '_Selling Expenses_' form part of COGS? unless they mean marketing?


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## The Triangle (30 December 2022)

Tommy Shelby said:


> Share price has slid to $0.19/share for the end of the year - the numbers from the annual report don't look good. It's hard to see the unit economics working in their favour for quite some time unless there is some underlying operational leverage I can't see.
> 
> They've burnt $5m in cash in the last 6 months with $14.6m forecast by Q1 23 end. Current MC of $25m against net assets of $19m of which the majority is cash/inventory is interesting.
> 
> ...



Yes, quite often the marketing (I think transport as well) is called selling expenses.   It's not part of COGS because technically marketing and shipping is not actually required to 'make the goods' its only required to 'sell the goods'.  I could be wrong here, but I think for example if you were buying and then reselling those goods then shipping and marketing might make their way into the COGS. (I'm sure the internet has the answer!)

I looked at WOA a few months back when it was probably around 60 cents a share and couldn't believe it was worth any more than about a token 1 cent. Looking at recent quarterly and they're still hemorrhaging money.    Surely sales need to increase by several orders of magnitude for them to look at being profitable (but what would I know?).   

I don't know how these companies continually raise capital...  With the cash burn the way it is the cash backing is hardly worth much of anything.





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