Genomar was founded by Professor Oystein Lie in 1998 together with the Fred Olsen group. Since then, capital has virtually flowed down the drain.
Between 1998 and 2009, the company lost NOK 124 million (€15.8 million/$22.3 million) on its operation. Last year a further NOK 53 million (€6.8 million/$9.5 million) ran out of the company, of which NOK 43 million (€5.5 million/$7.7 million) was lost on operating costs.
Recently the company reported a loss of NOK 8 million (€1 million/$1.4 million) for the first quarter of this year.
Shortly
