New Zealand Coastal Seafoods Limited (AU:NZS) has released an update.
New Zealand Coastal Seafoods Limited (NZS) reported a quarterly customer revenue of A$328,000 and announced their new operational facility at 56A Comport Street, Portsmith QLD, amidst a strategic shift due to the Chinese importation ban on Australian lobster. The company retracted previous statements about expected cost savings from a now-liquidated subsidiary, advising investors not to rely on those claims for investment decisions. Additionally, NZS disclosed related party payments of A$11,000 to directors in fees and listed business activity expenditures, including significant amounts on staff costs and product manufacturing.
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