Pharmazen

[lorraina]

Looking Ahead
With end customer demand continuing to be strong, we go into 2024 with considerable optimism.
New opportunities are arising in and around our consumer product ranges with AiOra set to receive a significant push in
2024. New Zealand music icon Boh Runga is taking on an ambassador role fronting our range extension into glandulars.
The AiOra range was developed to access the non-ingredient markets in Southeast Asia, and it is pleasing to note that we
will have products in both China and Korea this year.
The pet range will be launched across three online platforms in China in July. In conjunction with our Chinese partner
significant work has gone into finalising packaging, product and distribution channels.
Challenges with trademark registration will see the range marketed as Waitaki Pet and we are enthusiastic about the initial
feedback and potential

[Basil]

I have been keeping an eye on this in case there's an opportune time to buy back in.  I'm not feeling it.
Annual report file:///C:/Users/user/Downloads/6656b3c8a54ca5e3e24e0685_FY23%2520Pharmazen%2520AR%2520Template_final.pdf

If you strip out the "accounting paper only gain" of Cibus preference shares, (I'm not going to try and unpack why they did that) or why their ongoing fixation with EBITDA figures, what really matters is whether they made a trading profit after all costs and in that respect this snippet from the report is most interesting

The view of the Board is that the going concern assumption is valid. This view has been reached after making inquiry and having
regard to the circumstances that the Directors consider will occur and those that are reasonably likely to affect the Company
during the period one year from the date these financial statements are approved.
The Company recorded a net profit before tax of $5,251,990 however if non-trading income of a net $5,737,011 is excluded the
Company would show a trading loss before tax of $485,021. The Company is budgeting to return to a trading surplus in 2024

I remember the days when they actually made real money after tax from real trading.  In 2020 for example they made real money $5.2m before tax after all costs, annual report here, $4m before tax in 2019 file:///C:/Users/user/Downloads/664fccc2122d5d9abc615645_FY20-PharmaZen-Annual-Report-Final.pdf 
I'm not sure how they can say they've made progress over the years with a straight face but I guess I am just old fashioned and believe that what really matters is whether you make a real profit after tax or not.  I don't see any of the cost pressures they have faced in 2023 abating in the foreseeable future and while I acknowledge there is a chance they could break even or even make a small profit in 2024, to me it still feels like its going backwards compared to the years prior to Covid before.  It's not for me as an investment again, certainly not at this stage.  To me, it feels like the company has reverted to being a "startup" again, which is a pretty remarkable state of affairs considering they've been trading for so long now, but I genuinely hope it works out well for shareholders. 

[lorraina]

I note revenue for the year was $28.9 mil.Considering the very poor first half revenue was only $10.3 mil,the second half revenue was a very good $18.6 mil.This revenue was delivered from Port Hills Road site only.
Rolleston.Hopefully they start operations as they say at the end of July.
Should PAZ be able to keep Port Hills Road producing at current levels we can expect revenue there may reach over $37 mil to $39 mil.
With gross margin currently 33% we should see PAZ produce a very satisfactory result for the year ending 31st December 2024.
Now the big question that should be answered at the agm on June 27th,is what revenue Rolleston will produce.?
We will hear later in the year how the pet food sales are going;
The pet range will be launched across three online platforms in China in July. In conjunction with our Chinese partner
significant work has gone into finalising packaging, product and distribution channels.
Therefore there is a lot to look forward to.

[Nizzy]

I note revenue for the year was $28.9 mil.Considering the very poor first half revenue was only $10.3 mil,the second half revenue was a very good $18.6 mil.This revenue was delivered from Port Hills Road site only.
Rolleston.Hopefully they start operations as they say at the end of July.
Should PAZ be able to keep Port Hills Road producing at current levels we can expect revenue there may reach over $37 mil to $39 mil.
With gross margin currently 33% we should see PAZ produce a very satisfactory result for the year ending 31st December 2024.
Now the big question that should be answered at the agm on June 27th,is what revenue Rolleston will produce.?
We will hear later in the year how the pet food sales are going;
The pet range will be launched across three online platforms in China in July. In conjunction with our Chinese partner
significant work has gone into finalising packaging, product and distribution channels.
Therefore there is a lot to look forward to.

surely the big question is why they aren't making a trading profit, as Beagle has noted above?  One off gains from selling property are just that, one-off, might be nice but have little to do with ongoing operating profits. Hope someone asks the hard questions at the AGM.

[Breezy]

Haha I was kinda right yesterday about those 21k shares sold, it was holder Iceman selling to build a new deck. Good luck to those sellers currently lined up starting at 42c.
Have just put in my direct vote for the AGM and have voted against resolution 6 and hopefully others will also.
I put in a couple of questions for last years AGM and they were not addressed so not wasting my time this year.
Time for this thread to go back to sleep for another 6 months.

[lorraina]

PAZ Annual report.
https://usx.us5.list-manage.com/track/click?u=746ad5c195883aa443504e861&id=4fbc16908e&e=c8d1cd4df0

[Breezy]

PAZ Annual report.
https://usx.us5.list-manage.com/track/click?u=746ad5c195883aa443504e861&id=4fbc16908e&e=c8d1cd4df0

Out of the 74 pages in that report my favorite by a country mile is p4, stunning unobstructed photo.

[Breezy]

No one wants to pay anymore than 30c for these and I think it will be quite a while before that changes, sellers starting to load their guns just above that.

[Untamed]

New campaign for AiOra, and new product range, just released:

https://aioranz.com/blogs/news/meet-boh-runga-aiora-creative-director-and-ambassador?utm_source=Klaviyo&utm_medium=campaign&_kx=-QmPWLDRWciaxz4ehS6wfC7mcfImLQJFf1sn7KDRcKs.T7LbhD

Feels a little like desperation to me to be honest.

[Breezy]

New campaign for AiOra, and new product range, just released:

https://aioranz.com/blogs/news/meet-boh-runga-aiora-creative-director-and-ambassador?utm_source=Klaviyo&utm_medium=campaign&_kx=-QmPWLDRWciaxz4ehS6wfC7mcfImLQJFf1sn7KDRcKs.T7LbhD

Feels a little like desperation to me to be honest.

Pretty standard tactic these days for companies to use to promote their products however the AiOra products aren't going to drive this company to where it should be, just a sideline IMO.

[lorraina]

I am looking forward to PAZ's agm on Thursday,especially their presentation outlook.A lot of exciting projects happening.
Just hope I am rid of my cold,otherwise I will watch online.
With Port Hills Road factory running at full speed,it will be interesting seeing how well,and how quickly Rolleston One
comes up to speed.


PharmaZen    Limited ( Company   ) , Annual Shareholders   ' Meeting will   be held on    Thursday, June 27   th , 2024, at 11:30
am at the  BNZ  Christchurch Partners    Centre ,  Level 4, 111 Cashel Street, Christchurch   and  online  at
www.virtualmeeting.co.nz/paz24   .

[lorraina]

First 6 months revenue up 25% on same period last year.
Ministry of Primary Industries approval for Rolleston One factory completed.
Production to start there shortly.
Krill oil supplier's issues means PAZ's extraction plant is under utilised currently.
New products including for pets coming to market over the next few months.
Board renewal under way.

[Untamed]

First 6 months revenue up 25% on same period last year.
Ministry of Primary Industries approval for Rolleston One factory completed.
Production to start there shortly.
Krill oil supplier's issues means PAZ's extraction plant is under utilised currently.
New products including for pets coming to market over the next few months.
Board renewal under way.

Yes, and the comment was made that this supplier is unlikely to get their boat in the water next year. I think they need to find an alternative supplier. How long are they willing to wait for this one to start supplying product?

[Breezy]

Some good stuff going on but I don't expect any sp appreciation anytime soon. Passing resolution 6 without anyone even discussing it is most disappointing, if you want to drive value and believe in the company then why drop option exercise price from 66c to 25c, im unimpressed with the signal that sends.
One poster on the other channel thinks that we might get back to $1 in a few yrs time all going well, once again not very aspirational, $1 in a year would be more in line with believe in better I would have thought.

[Untamed]

Some good stuff going on but I don't expect any sp appreciation anytime soon. Passing resolution 6 without anyone even discussing it is most disappointing, if you want to drive value and believe in the company then why drop option exercise price from 66c to 25c, im unimpressed with the signal that sends.

I did notice that there was silence initially around this one. When he asked for someone to second that resolution, nobody responded for some time, until a woman eventually said she would second it. I was expecting at least some discussion after that, but as you say, none was forthcoming. Maybe those present were just not game to speak up? I thought there might be some commentary with regard to the proxy votes - as in, how many voted for or against it, but that didn't happen either. No idea how the presentation of proxy votes works, but I thought it would be done differently.