Pharmazen

[Breezy]

Okay after watching the ASM its pretty much go back to sleep until this time next year. My online question i sent to link a few weeks ago was not even asked and there may have been others who asked questions as well. Anyway its just a sit tight for me for now, masses of potential here but it needs to be realised.

[Untamed]

(Cross posted)

Watched the presentation, but I have to say, I am not feeling the love for this company anymore. I heard no real passion from the speakers, and nothing to give me confidence that we will see any major progress anytime soon.

I am concerned about the comments re staffing issues. I get that some of the staff who left very shortly after starting, may simply have been ticking boxes for WINZ, as implied, BUT what exactly is the company doing to attract people and motivate them to want to work there? Are they paying employees appropriately? Are they taking advantage of apprenticeship schemes etc? It just makes me wonder what the real issues are.

I may of course, be misunderstanding/misinterpreting - but my gut feeling is that my investment in PAZ is pretty much a "bottom drawer" write-off now (only a very small holding which I brought at close to $1 but not even worth selling)

Okay after watching the ASM its pretty much go back to sleep until this time next year. My online question i sent to link a few weeks ago was not even asked and there may have been others who asked questions as well. Anyway its just a sit tight for me for now, masses of potential here but it needs to be realised.

[winner (n)]

Any news on the warehouse that's up for sale and lease back?

It often gives me an uneasy feeling seeing large amounts of Assets Held For Sale on a Balance Sheet

Something in common with Oceania, Synlait etc

[Breezy]

(Cross posted)

Watched the presentation, but I have to say, I am not feeling the love for this company anymore. I heard no real passion from the speakers, and nothing to give me confidence that we will see any major progress anytime soon.

I am concerned about the comments re staffing issues. I get that some of the staff who left very shortly after starting, may simply have been ticking boxes for WINZ, as implied, BUT what exactly is the company doing to attract people and motivate them to want to work there? Are they paying employees appropriately? Are they taking advantage of apprenticeship schemes etc? It just makes me wonder what the real issues are.

I may of course, be misunderstanding/misinterpreting - but my gut feeling is that my investment in PAZ is pretty much a "bottom drawer" write-off now (only a very small holding which I brought at close to $1 but not even worth selling)

Bottom drawer but definately not a write-off by any stretch.

[lorraina]

Okay after watching the ASM its pretty much go back to sleep until this time next year. My online question i sent to link a few weeks ago was not even asked and there may have been others who asked questions as well. Anyway its just a sit tight for me for now, masses of potential here but it needs to be realised.

The factory tour was incredible

[winner (n)]

The factory tour was incredible

That's what matter the most

[lorraina]

That's what matter the most

My thoughts too.

[Minimoke]

(Cross posted)

Watched the presentation, but I have to say, I am not feeling the love for this company anymore. I heard no real passion from the speakers, and nothing to give me confidence that we will see any major progress anytime soon.

I am concerned about the comments re staffing issues. I get that some of the staff who left very shortly after starting, may simply have been ticking boxes for WINZ, as implied, BUT what exactly is the company doing to attract people and motivate them to want to work there? Are they paying employees appropriately? Are they taking advantage of apprenticeship schemes etc? It just makes me wonder what the real issues are.

I may of course, be misunderstanding/misinterpreting - but my gut feeling is that my investment in PAZ is pretty much a "bottom drawer" write-off now (only a very small holding which I brought at close to $1 but not even worth selling)

Having also attended the AGM I might be answer a few questions.

The sense I get is staff are being well paid. Well above minimum wage and medical insurance.

Its hard labour work. You won't get many snowflake kiwi lads wanting to do that kind of work. The couch and gaming machine is too attractive. Get up once every few weeks to attend an interview and you can be safely back on the couch 2 hours later.

Apprenticeship probably isn't appropriate for most of there work. They had some pretty high skilled welding / manufacturing staff (evidenced by the kit we saw out on site) but may not be enough technical variety of an apprenticeship.

I don't ask if it is still around but a couple of years back they had an employee share progrramme running.

[Minimoke]

The factory tour was incredible

They sure have a lot of processing capacity being developed.

But I would have to say overall I was disappointed with the lack of actual plant that was even close to being operational.

All manufacturing is currently being done out of Port Hills. So Rolleston is essentially cash a money pit.

I was pleased to hear Rolleston II is essentially being mothballed while they shift focus from construction to manufacture.

[Minimoke]

Bottom drawer but definately not a write-off by any stretch.

A long long, way from being a write off. Theres a great deal of positive stuff on the horizon. I'm looking forward to them stopping construction and just getting stuck in to make product.

[lorraina]

A long long, way from being a write off. Theres a great deal of positive stuff on the horizon. I'm looking forward to them stopping construction and just getting stuck in to make product.

I think ALL shareholders would agree with you..

[Basil]

https://usx.co.nz/uploads/paperclip/documents/2844/original/PharmaZen9_2023_FINAL_AS_PRESENTED.pdf?1687153171

Good luck guys.  I hope it works out well for you.

[Untamed]

OK, I was clearly off base with my previous comments so my apologies to anyone who was offended by my post. My situation is vastly different from everyone else's - my comments were based on my own scenario, as I only have 1000 shares.

Just ignore me.

[lorraina]

I attended yesterday's AGM and also went on the factory tour.
I was very disappointed that their first quarter was very poor.I had expected great trading with the new two huge freeze dryers now operating.
I was also expecting discussions on the change of auditor,the debt level ,and the very slow progress on the equipment installations .Thought there would be some angry shareholders.
Yet all resolutions were passed without any decent.
I was lucky to be seated next to PAZ largest shareholder,and former long term Chaiman,Max Shepherd.He is very excited that the Rolleston build is taking place,and the extremely bright future PAZ has.
Although I found hearing the speakers at the meeting hard,it was a very different matter at Rolleston.
MD Craig McIntosh answered all questions.If he was unsure of the facts he asked the two very capable staff who then answered.
The factory is not like buying a new engine for your car and fitting it.It is very complex.Chemicals at -40 degrees, then heat generated.The Stainless Steel equipment is huge.Huge freeze dryers,huge stainless steel tanks and mixing bowls.Huge stainless steel pipes everywhere.At lot of welding required.
Getting the power from the transformer to their switch board cost $110,000 and wiring the building approx $250,000.
When PAZ first installed a freeze dryer at Port Hills Road ,30 Chinese technicians came here and installed it.
Covid put paid to them coming back,therefore PAZ have had to do the work themselves.
The heat recovery plant is also big and complex.
I know the shareholders who went on the factory tour were impressed and excited at what they saw.

[Minimoke]

I attended yesterday's AGM and also went on the factory tour.
I was very disappointed that their first quarter was very poor.I had expected great trading with the new two huge freeze dryers now operating.
I was also expecting discussions on the change of auditor,the debt level ,and the very slow progress on the equipment installations .Thought there would be some angry shareholders.
Yet all resolutions were passed without any decent.
I was lucky to be seated next to PAZ largest shareholder,and former long term Chaiman,Max Shepherd.He is very excited that the Rolleston build is taking place,and the extremely bright future PAZ has.
Although I found hearing the speakers at the meeting hard,it was a very different matter at Rolleston.
MD Craig McIntosh answered all questions.If he was unsure of the facts he asked the two very capable staff who then answered.
The factory is not like buying a new engine for your car and fitting it.It is very complex.Chemicals at -40 degrees, then heat generated.The Stainless Steel equipment is huge.Huge freeze dryers,huge stainless steel tanks and mixing bowls.Huge stainless steel pipes everywhere.At lot of welding required.
Getting the power from the transformer to their switch board cost $110,000 and wiring the building approx $250,000.
When PAZ first installed a freeze dryer at Port Hills Road ,30 Chinese technicians came here and installed it.
Covid put paid to them coming back,therefore PAZ have had to do the work themselves.
The heat recovery plant is also big and complex.
I know the shareholders who went on the factory tour were impressed and excited at what they saw.

Thats the benefit of attending the AGM and site visits @Lorraina. Its not what you glean from the presentation - its what you learn over the coffee that is by far much more important. Eg why they produce gummies.

Like you, very disappointed with Q1 results. I am not satisfied with their "staff shortage" reasons. Nor was I satisfied with the chairs (when I asked him) response to the lack of information being given to shareholders and the market.

However, after the site visit I have zero concerns about my holding. Progress is slow, but once they get Rolleston 1 up and running (its got a while to go yet) they will be pumping out literally tons of product.

This business is so much more than getting a bit of waste animal, chopping it into wee bits, freeze drying and chucking it in a capsule.

And pleased to get my $29.50 special dividend at the AGM. A bottle of Aoria. I like the be packaging - and what people won't see from the picture's is the tactile feel of the label which I like. I left the pet treat dividend to those that have animals so can't comment on that.

By my reckoning I'm about 1 1/2 years behind where I would like to have been with this investment. Not a great place to be. But I am still happy to be holding a great local company. I'm looking forward to 1H 2024 results