Speaking to the Otago Daily Times from Australia last night, Mr Craig said Treble Cone had not paid a dividend to its 50 shareholders in 30 years.
Yesterday, the ODT reported the company posted a trading loss of $486,000 last year, there was a reasonable chance of a sale of the company's assets by the end of the financial year and the company being unable to pay a dividend in the foreseeable future.
The information was included in a letter to shareholders, leaked to the ODT. Mr Craig said from the company's point of view, the decision to pass the letter on was "disappointing" but the purpose of the letter was to keep its shareholders fully informed.
Last night, Mr Craig described the trading loss as "Murphy's Law"; the sale of assets as a possibility; and the inability to pay dividends as a regular occurrence.
"There is a bit of an illusion that some ski areas are profitable - many have never made sufficient profits to pay dividends. Treble Cone, I don't believe, in 30 years . . . ever has.
"It's very much a community asset and I think there's a bit of a misunderstanding in the community because they see some passes going up in price and think the shareholders are making a profit."
Mr Craig said the shareholders were involved because they wanted to support Treble Cone - many had long associations with it and saw it as an asset to the community.
They were the same shareholders who stepped in seven years ago when the ski area was at risk of splitting assets and closure, he said.
"It certainly wasn't a big money-making thing; it was an asset to the community. They are there because they want to support that.
"What we have done has been successful . . . it's achieving what our expectation had been, we just had some massive hiccups that all [happened] at once. It's Murphy's Law."
Mr Craig said the unexpected capital expenditure of $1.5 million on a sewerage system upgrade, the Saddle Culvert rebuild and a generator motor replacement had a huge impact on the ski area, which was closed 10 days in 2008, compared with one day in 2007.
While the company was hopeful of another influx of Australians making the most of the exchange rate and plenty of good snow throughout the season, it was still considering selling off the company's assets.
"We have been approached by some parties and we are in discussions with them.
"We'll just see where that takes us . . . if there was a benefit to Treble Cone, its shareholders and its customer base for a transaction to occur, then we would look at that transaction, we would do it . . . if it was in the best interests of the business going forward.
"If the right party came along, with the right price and it would benefit everybody . . . we would do it."
