Dunedin probiotics manufacturer Blis Technologies has provided a $164,000, five-and-a-half-year, interest-free loan to its new chief Brian Watson to buy 5.5 million shares in the company.
In late May, Blis predicted it would finally be in the black for the first time, next year, after posting its 15th annual loss, of $814,000.
The company's revenue for the year to March 2016 more than doubled to $5.6 million.
It expects total trading revenues for the next financial year of more than $8 million, and to book a maiden profit.
Blis' consecutive losses since 2001-02 now top $33 million.
In a market update yesterday, Blis chairman Peter Fennessy said the board was "very pleased'' Mr Watson had recently become a Blis shareholder.
Blis shares were up more than 9% yesterday after the announcement, trading at 3.6c.
