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New Zealand Coastal Seafoods Limited
(Sydney:NZS)
New Zealand Coastal Seafoods Limited (NZS) vs. iShares MSCI Australia ETF (EWA)
New Zealand Coastal Seafoods Limited Business Overview & Revenue Model
New Zealand Coastal Seafoods Limited Financial Statement Overview
| Breakdown | ||||
| Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 352.20K | 3.36M | 2.42M | 2.42M | 1.51M | Gross Profit |
| -111.49K | -418.70K | 355.59K | 222.28K | 155.38K | EBIT |
| -1.22M | -1.61M | -2.59M | -3.39M | -2.39M | EBITDA |
| 22.14K | -2.56M | -4.08M | -3.20M | -6.60M | Net Income Common Stockholders |
| -108.11K | -2.62M | -4.45M | -3.58M | -6.81M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 153.00K | 9.74K | 686.35K | 2.66M | 1.84M | Total Assets |
| 2.67M | 2.66M | 2.12M | 5.63M | 4.94M | Total Debt |
| 1.28M | 1.07M | 1.13M | 1.30M | 1.36M | Net Debt |
| 1.13M | 1.06M | 448.25K | -1.36M | -486.18K | Total Liabilities |
| 1.38M | 1.69M | 1.43M | 1.56M | 1.65M | Stockholders Equity |
| 1.29M | 964.94K | 693.67K | 4.07M | 3.30M |
| Cash Flow | Free Cash Flow | |||
| 784.58K | -1.11M | -2.80M | -2.83M | -3.94M | Operating Cash Flow |
| 784.58K | -1.11M | -2.63M | -2.67M | -3.00M | Investing Cash Flow |
| 0.00 | 0.00 | -167.79K | -167.79K | -1.03M | Financing Cash Flow |
| -641.32K | 443.00K | 702.94K | 3.65M | 5.86M |
New Zealand Coastal Seafoods Limited Peers Comparison
New Zealand Coastal Seafoods Limited Corporate Events
New Zealand Coastal Seafoods Limited has completed the purchase of a 387-ton fishing vessel, MV Bluefin, which is expected to significantly enhance its operations in the Coral Sea Fishery. The company has also expanded its operations with a new factory in Mackay, raised $666,000 through Convertible Note subscriptions, and secured a cornerstone investor, Ilwella Pty Ltd. These developments are aimed at strengthening the company’s financial position and operational capabilities, with plans to resume normal trading on the ASX in May 2025.
New Zealand Coastal Seafoods Limited reported a significant downturn in its financial performance for the half-year ended 31 December 2024, with revenues from ordinary activities decreasing by 6% and a net loss of $166,016, compared to a profit of $75,787 in the previous period. This decline in financial results highlights challenges the company faces in maintaining profitability, impacting its market positioning and potentially affecting stakeholder confidence.
New Zealand Coastal Seafoods Limited has announced its upcoming Annual General Meeting, scheduled for May 9, 2025, in Sydney. Key agenda items include the adoption of the remuneration report, election of directors, approval of a mandate to issue equity securities, confirmation of the appointment of an auditor, and a proposed change of the company’s name to ‘Eco Fisheries Group Limited.’ These resolutions, if passed, could significantly impact the company’s governance structure and strategic direction, potentially enhancing its market positioning and operational capabilities.
The recent market announcement highlights the long-term suspension of securities for several entities on the ASX, including the deadlines for lodging outstanding periodic reports and executing plans to resume trading. This announcement underscores the importance of compliance with ASX listing rules and the potential consequences for entities that fail to meet these deadlines, which could impact their market presence and investor confidence.
New Zealand Coastal Seafoods Limited has completed the acquisition of The Bluefin, a 35-meter, 387-ton multi-purpose fishing vessel, which will commence operations in the Coral Sea in May 2025. Equipped with advanced technology and valued at $1,100,000, the vessel will enhance the company’s fishing capabilities, allowing it to operate for 10 months a year and carry over 80 tons of products, thereby strengthening its position in the premium seafood market.
New Zealand Coastal Seafoods Limited has announced a change in its board, with John Lombardo resigning and Leo Zussino being appointed as an Independent Non-Executive Director. Zussino brings extensive experience in strategic planning and corporate governance, which is expected to enhance the company’s strategic direction and operational excellence.
New Zealand Coastal Seafoods Limited has postponed its Annual General Meeting originally set for March 14, 2025, to April 30, 2025. This delay allows the Board to finalize the agenda to include recent developments, ensuring shareholders have a comprehensive understanding of the company’s future. This move is significant as it reflects the company’s commitment to transparency and may influence stakeholder confidence and engagement.
New Zealand Coastal Seafoods Limited has secured a $400,000 investment through Convertible Note subscriptions from Ilwella Pty Ltd and Offelbar Pty Ltd, linked to the Flannery Family Office. This funding will enhance the company’s financial position and support its strategic initiatives, particularly in developing strategic fishing licenses. The investment reflects confidence in NZS’s growth strategy and commitment to sustainable fishing practices, potentially strengthening its market position and benefiting stakeholders.
New Zealand Coastal Seafoods Limited has secured a $50,000 investment through a Convertible Note subscription, strengthening its financial position to support ongoing operations and strategic initiatives. This funding reflects investor confidence in the company’s growth strategy and commitment to sustainable fishing practices, with plans to convert these notes into shares pending shareholder approval.
New Zealand Coastal Seafoods Limited has raised $20,000 through a Convertible Note subscription from a professional investor, which will enhance its financial position and support its strategic initiatives. The funds will provide additional working capital and underscore investor confidence in the company’s growth strategy and commitment to sustainable fishing practices. The Convertible Notes will automatically convert into shares upon shareholder approval, with a conversion price of $0.002 per share.
New Zealand Coastal Seafoods Limited has been formally censured by the ASX for breaching Listing Rules 10.1 and 3.1 involving a substantial supply agreement with Gold Saint International Resources Group Pty Ltd. The breaches were related to undisclosed relationships between the company’s chairperson and Gold Saint, as well as a failure to disclose deteriorating circumstances and financial forecast failures. This censure highlights serious compliance issues and a poor history of adhering to ASX regulations, raising concerns about the company’s governance and transparency.
New Zealand Coastal Seafoods Limited has secured $18,000 through a Convertible Note subscription from a professional investor, enhancing its financial position and supporting its strategic initiatives. This capital raise reflects investor confidence in the company’s growth strategy and commitment to sustainable fishing practices, with plans to use the funds for additional working capital.
New Zealand Coastal Seafoods Limited announced its quarterly activities report for the period ending September 2024, highlighting significant operational changes and financial adjustments. The company successfully completed initial explorational fishing trips in the Coral Sea, revealing promising fish stocks, and decided to close its loss-making New Zealand operations, which resulted in reduced losses and increased net assets. The company is exploring opportunities to commercialize its Coral Sea Fishery permits and is considering a potential acquisition to boost future revenues.