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CSS - Clean Seas Seafood

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Re: CSS - Clean Seas Tuna

You and others are a victim of Hagen's Hype You should send him a bill for your losses along with some of his quotes
Click to expand...

Hagen's not to blame. We are. Nothing is certain. Any share is risky.

If you want low risk there are banks to park your money in.

Only the weak and feeble minded make excuses and blame others - No offence. Only the parasitic lawyers and politicians profit from such behaviour.
 
Re: CSS - Clean Seas Tuna

Take a look at their ASX response. Particularly curious is their belief that "... the company did not believe that these deaths were material in the context that this seasons's spawning program was still in progress ..."
Amazing! They must have known that this was a critical success factor in the eyes of investors.
 
Re: CSS - Clean Seas Tuna


Don't be silly; it doesn't matter whether or not the babies die. What does that have to do with their ability to grow them up?

Apparently the loss of the Kingfish and Mulloway was not materially important either. Go figure! Maybe I'll next be seeing oil companies saying that a lack of oil coming from a well is not really materially important. Just having the well is the important bit, right?

I'm surprised they have the nerve to say they believe that the death of all this season's fish was not material.

Perhaps even more surprising is that they claim that until the day before the release, they had no idea that this years profitability was going to be more than 10% lower than last year's! If that was actually true I'd expect them to be denied the right to run a business due to a severe lack of competence.

We'll see if the regulators have any teeth. I suspect not. More likely we'll be seeing a report on the news about a mob in South Australia carrying pitch forks and torches.

If they were as good at breeding tuna as they are at coming up with progressively more transparent and ridiculous lies, we would all be enjoying sashimi right now.
 
Response to ASX Appendix 4D Query 03/03/2010

Re. Response to ASX Appendix 4D Query 03/03/2010

If the last fish died on the 24 Feb and it 'may' be "too late to have the finigerlings put to sea in cages", then I assume the directors would have known several days earlier that an event material to the Company had occurred.
 
Re: CSS - Clean Seas Tuna


A pretty dodgy response in my opinion WiseMum.
The YTK and Mulloway deaths are known almost imediatly. Fish either float or sink. If the float they are collected from the surface if the sink they are collected from "Mortality Boxes" from under the cages. They know before the whole cage is graded. The slow growth is also know by regular sampling a number of fish and weighing them. Not as accurate but a dam good indication.

Regarding the death of the SBT fingerlings not affecting the buisness because they might spawn more eggs and the new eggs might live.
What a joke. Of course it was a critical success factor. If the announcement of the spawn sends the price up surley thier deaths would have an affect.
 
Re: Response to ASX Appendix 4D Query 03/03/2010


The announcement should have been made when above normal mortalities occured and not after the last one died. Pre-commercial trials can not take place with one fish. This may have been days or weeks earlier before the last one died.
 
Re: CSS - Clean Seas Tuna


Don't be ridiculous! The mortality rate was only 100%. I'm no professor of mathematics, but 100 is a tiny number compared to 25,000, so it's hardly materially important.[/sarcasm]

Even if they do get more babies now (but don't count your eggs before they're even spawned, especially when CSS is in charge), they will be too young to go to the sea cages before winter, so even in best case scenario (extremely unlikely, let's face it) it will be another year before they can test the SBT growth in sea cages, they're going to run out of money well before the next spawning, and finding someone to trust CSS with more money is going to be tough. At this rate the geneticists will engineer a tree to produce tuna before CSS closes the life cycle.

On the off chance that they do succeed now, capital raising is likely to dilute the price to much lower than it is sitting currently (though it's dropping as I type), so the only reason I can see to pay current prices is the hope that in liquidation you'll get more than you paid.

I think Stehr was probably being honest when he said you need to be "sick in the head" to be working on this project.
 
Re: CSS - Clean Seas Tuna


Great line about fish on trees.

The cap raising has previously halved the share price and diluted current holders could next time be worse?

Was he refering to investors or workers being "Sick in the head"
 
Re: CSS - Clean Seas Tuna

I can understand why CSS is saying that they don't think the deaths of the fingerlings is a material event - it's a calculated bluff that the ASX lacks the motivation to go any harder. The share price has fallen 11% today after the announcement was released to the market but I suspect that it would have fallen further and harder if CSS admitted they made a mistake in not disclosing to the market earlier that the fingerlings had died.
 
Re: CSS - Clean Seas Tuna

Sdajii said:
At this rate the geneticists will engineer a tree to produce tuna before CSS closes the life cycle.
Click to expand...

This could be the start of a new company.
Think of the potential.
When you harvest you also get the wood to cook or smoke them.
Profit will be high as you dont need expensive feed.
Even the vegans will love it.
I can sell the land in a related party transaction (indipendantly valued of course)
Patent still open and does not require proof it will work.
The investors will love it
What could possibly go wrong!
 
Re: CSS - Clean Seas Tuna

All of you guy's/girl's have pretty much summed it up with your comments, if nothing else, I am pleased to see that investors can now understand the concerns I had with CSS last year and have an opportunity to act accordingly.

One burning question that has not been answered by anybody, most notably CSS, is how many fingerlings did they produce from the 25mill larvae last year. All we ever saw was a couple of dozen fingerlings on a youtube footage and then , about 6-8mths later, someone holding a fish of about 1-2kg. I can't understand why the ASX didn't ask for more information on last years spawning, in my view, this was just as material as this years mortalities.
We had no information on mortality rates what so ever leading into this seasons spawning.

If I were an investor, I would be making a detailed submission/complaint to the ASX and ASIC requesting that they investigate this company further. Failure to do so will undermine my confidence in our financial regulators and administrators. If they failed to act, I would send my submission to the financial services ombudsman.
 
Re: CSS - Clean Seas Tuna

Hey TGE oracle Do you know what happened to the Growfish.com.au web site? they are offline and a google search found no reports later than december last year?
 
Re: CSS - Clean Seas Tuna

Basilica said:
Hey TGE oracle Do you know what happened to the Growfish.com.au web site? they are offline and a google search found no reports later than december last year?
Click to expand...

Basilica,

No, I don't, but I have been wondering what is going on. I was assuming they were undertaking a website upgrade and would re-launch soon....alas, we are still waiting. I too, use this site for aquaculture information, news reports and reference material.
 
Re: CSS - Clean Seas Tuna


good tip Tassal salmon not many growth hormones in this product at all is there??????? used to love smoked salmon from tassie but not anymore ps might have the hormone thing wrong ANTIBIOTICS was what i should of said
 
Re: CSS - Clean Seas Tuna


I think you're spot on. There is a good chance they will get away with the blatant lie, and if they don't, they'll be in no more (probably less actually) trouble than if they admitted they had knowingly done the wrong thing.

Everyone talks about the regulators being useless. This will be a good demonstration of whether or not action will be taken in a blatantly obvious case of wrongdoing. If they get away with it in this case we might as well start that tuna tree company up.
 
Re: CSS - Clean Seas Tuna

Can anybody shed any light on what might happen if Clean Seas Tuna has any frozen eggs put to one side.

Who might own these eggs if they show up somewhere else on the planet
 
Re: CSS - Clean Seas Tuna

My Good ness in one day so far 3.05 Pm WST there have been 17 posts (18 including mine now) on this Tuna Fish thread

Looks like all of the contributors are intested in catching tuna and some how the company forgot about the dead tuna eggs until they started to stink and smelly

Do not hold or excepting eating salmon, tuna, and others, I have no interest in fishy shares. Just accidentally saw this thread and price jump in tipping competetion thread by BERTY got me interested. the price down on Friday certainly helped Berty to gain the top position and there is nothing fishy about it

enjoy fishing and LOL
 
Re: CSS - Clean Seas Tuna

Miner said:
Just accidentally saw this thread and price jump in tipping competetion thread by BERTY got me interested. the price down on Friday certainly helped Berty to gain the top position and there is nothing fishy about it
Click to expand...
As I said in the comp thread, what a difference a day makes.

I only wish my actual holdings were looking as healthy as my competition figure
 
Re: CSS - Clean Seas Tuna

sashimi said:
Can anybody shed any light on what might happen if Clean Seas Tuna has any frozen eggs put to one side.

Who might own these eggs if they show up somewhere else on the planet
Click to expand...

Hi sashimi,
Never heard of any freezing of fish eggs of any species.
You would still have the same or worse problem turning them into fish when thawed.
They would still be the property of Clean Seas.
You can get a supply of fertilised YFT eggs from Panama for free or a donation depending on your use. Thier tuna are constantly spawning but have not progressed to commercial size.
http://www.iattc.org/HomeENG.htm

Do you know of frozen eggs in the fridge?
 
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