not sure I agree that OME should diversify. they are making money. the amount they make varies based on catch, fish meal prices, oil yields, etc, so there will be good and not-so-good quarters. in the short-term, there may be some restrictions on catch sizes in certain areas, but there will be plenty of places that permit Menhaden fishing without limits for a long time (heck, Japan still permits whaling). my best guess is that 10 years from now they will be doing the same thing and still making money. instead of diversification, we need to convince OME to spend their earnings by paying out a dividend.
perhaps they don't have any good ideas for diversification plan ?
other than fishoil pills, what else could they do ? when i read about the Cyvex products on the website, get the funny feeling they need a Shaman more than they need OME ownership. hehe,haha. and that the products are in the the sham-snakeoil realm. every page says "These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease." talk about a buzzkill.
OME has $40MM in cash, and $200MM per year in revenue (and $40MM in EBITDA? ) in a strong commodity industry, and the best they have come up with in last 24 months is are a bunch of fruit extracts via mail order.
why don't/havn't the Institutional Shareholders turned activist ?