Shrimp sales for Honolulu aquaculture firm Ceatech USA Inc. fell nearly 13 percent in the most recent quarter, and the firm's net loss more than tripled to $933,033. Ceatech USA losses grow
to more than $930,000
Star-Bulletin staff
Ceatech's sales fell to $537,293 during the months of August, September and October from $612,060 in the same period last year, according to a filing yesterday with the Securities & Exchange Commission.
Ceatech has lost $10 million since its inception in 1995.
The firm said it is recovering from production problems at its shrimp hatchery on Kauai.
The firm's cash has dwindled to $33,130 from $75,809 last year. Ceatech said it is looking for outside investment. A $2.5 million state loan hasn't come through.
In October, two Ceatech stockholders gave a commitment to buy up to $500,000 each in convertible subordinated debentures to be issued in the following three months.
Ceatech's over-the-counter stock, which has fallen 63 percent this year, remained unchanged yesterday at 26 cents.
Ceatech USA
