The South Moravian Financial Authority has secured a lien on shares in nine companies belonging to the Brno-based builder of aquaponic farms Future Farming from the GFF group. The company owes more than eight million crowns in taxes, according to information published in the commercial register.
“In the following weeks, the lien will be removed. The very specific reason is disagreements and the submission of a contradiction on our part regarding part of the tax arrears. Unfortunately, this negotiation dragged on, but in the coming days the whole matter will be closed, without damage to the functioning of the companies or restrictions on activity,” said Martin Podoba, CEO of Future Farming and co-owner of the entire GFF group.
- Aquaponics is an innovative farming system combining fish farming and growing vegetables and herbs. Biological waste from fish farming for meat is used as fertilizer for growing plants. The plant’s root network then cleans the water so well that it can return to the fish. This circular model, in combination with low energy consumption, is intended to serve as an example of sustainable food production.
- However, building aquaponic farms is an investment-intensive business. Future Farming is the most visible promoter of this innovative agricultural field in the Czech Republic. Among the local competitors, the Fish Garden from Lážovice in Berounsko was also the most visible. In the summer of 2023, Future Farming joined this project as capital.
- An aquaponic company in Přáslavice near Olomouc has been operating on the market for a long time, which is operated there by the company Flenexa plus entrepreneurs Aleš Horák and Michal Netolicky.
“The lien is established by the tax administrator in order to secure the tax claim, including its accessories, and it can generally be established against all the debtor’s property, i.e. also the business share. In the event that the secured claim is not paid, the business share will be valued and then sold in an electronic auction,” David Stančík, deputy director of the Financial Office for the South Moravian Region, described the state’s options in general.
“In the event that the secured claim is not paid, the business share will be valued and then sold in an electronic auction,” added Stančík.
The GFF group includes dozens of companies, including Future Farming. The holding makes massive use of bonds distributed among small investors for its growth. The group has already issued bonds worth more than one billion crowns.
For one of the smaller bond issues, the company is currently in arrears with the principal payment. The company justifies this mainly by its recent entry into the competing Fish Garden project. Future Farming is promising lenders a fix in the coming weeks. That is, in a similar timeframe, when he promises to solve the problems with the tax office.
“We are actively communicating with the clients of the issue in question. We are fully aware of the possible consequences of this situation, which is why we have proposed the possibility of financial or material compensation to the affected clients based on their preference,” added Podoba from Future Farming.
According to its statement, the GFF Group as a whole fulfills its other obligations despite the current problems with the tax office and part of the bondholders.
Future Farming on the News List
Articles about Future Farming projects and aquaponics on the News List: