Queensland cultivator Tikun Oceana generated revenue of just $5,000 in three years, suffered operational losses of more than $10 million and may have been trading whilst insolvent, a preliminary investigation into the company’s financial predicament has found.

In a report which lifted the lid on the firm’s dire finances, administrator Cor Cordis – appointed by Tikun in July – found a company with surplus product, negligible sales and no funding after shareholders withdrew their backing.

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Elementum integer enim neque volutpat ac tincidunt vitae semper quis. Eu lobortis elementum nibh tellus molestie nunc. Sit amet consectetur adipiscing elit duis tristique sollicitudin nibh. Magnis dis parturient montes nascetur ridiculus. Dui id ornare arcu odio ut sem. Nisl nunc mi ipsum faucibus vitae.
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
Elementum integer enim neque volutpat ac tincidunt vitae semper quis. Eu lobortis elementum nibh tellus molestie nunc. Sit amet consectetur adipiscing elit duis tristique sollicitudin nibh. Magnis dis parturient montes nascetur ridiculus. Dui id ornare arcu odio ut sem. Nisl nunc mi ipsum faucibus vitae.

Steve has reported for a number of consumer and B2B titles over a journalism career spanning more than three decades. He is a regulator contributor to health journal, The Medical Republic, writing on...

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