Per my conversation with Chade Sykes, who forwarded my questions on to Solomon. The last response appears to be cut short and I asked Chad to see if he accidentally deleted part of Solomon's response.
2011 we are expecting production to start within June onward so revenue was projected for 6 months whereas 2012 if all will go in accordance with plan, it should have the 13 million in revenue. We are targeting 60% GP. We have contracts in hand to build more APT based on the success results of the 1st farm.
1. Does the gross margin include cost of fingerlings or SG&A? Can you or Solomon elaborate on the breakdown of costs to get from gross revenue to gross income?
Cost of sales inclusive costs of figerlings, feed staffs, power, water other utilities and all associated costs in growing the fish to marketable sizes.
2. As I asked previously, can you provide any guidance as to what your expectations are for net margins. Net margins being your gross margin - operating costs.
Operating costs usually is targeting to be kept below 20% of sales covering all wages & salaries, sales and marketing, transportation and logistic, and all normal operational costs inclusive production and administration labor costs.
3. What kind of maintenance and cap-ex are required to maintain these systems?
We have our own maintenance staffs to work on all electrical and machanical side of the farm such that the major costs will be
replacement of P&E parts and components from time to time, and we are expecting them to be kept within less than 0.5% of sales
within the first two to three years, then increasing gradually as the P&E starting to age.
4. How quickly do you expect similar technologies and methodologies to ATP to be adopted after you show the success of your fish farm model (year 2)?
We are aiming to build another 4 farms in 2011 and 8 more in 2012, in respect of other big contracts which are not depending on us alone to determine how big the developers' projects will need to be and their decision at time will depend on the Government's policies at that time as well.
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