RE:Cluesboazklinghorn wrote: Like the habit of releasing a meaningless good news (Symrise extension this time) before material bad news (Q3 disaster) The price action has also been a good indicator of pending bad news. The last weeks before Q3 saw relentless selling and we are now seeing the same pattern even down into the 20 millions of market cap. Thankfully Gilles will still get paid no matter so y'all dont need to worry about him.
That was a material multi-year extention with Symrise and an expansion to include a preservative free, powder beta glucan. The parties had already been working on the powder for months. Sounds like it is meeting expectations. Is that a PGX development deal as PGX is being scale-up? PGX is CZO's proprietary drying technology and a PGX powder, preservative free beta glucan has been an expressed interest in the past.
Symrise is pleased:
"Timothy Kenny, Global President Cosmetic Ingredients, Symrise AG. “We believe this renewed commitment is an important milestone in our continued collaboration and this agreement further secures a strong foundation for the future. We are equally looking forward to making it successful in creating value.”
As for the Q2 disaster, as you call it. Wasn't that the immaterial news? As Gilles said it was a little bit of a glitch and sales lag last year's first half by one quarter. It's a matter of timing. CZO has $5.14 million in inventory on standby. The business remains "solid": “Despite a slower start to the year, our business remains solid, and we expect the reordering pattern from one major customer to resume shortly." news release
276,000 shares traded today in Canada. As long as no one has news we don't about the company the narrative the company has told us suggests the market is wrong to be concerned with CZO's story. The general market however is not in good condition.