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Mission Newenergy Limited (MNELF)

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Last Post: 9/8/2014 7:22:55 AM - Followers: 11 - Board type: Free - Posts Today: 0

Company Background
 
Mission NewEnergy Limited (Mission NewEnergy) is a producer of biodiesel that integrates biodiesel feedstock cultivation, biodiesel production and wholesale biodiesel distribution. The Company has three segments: biodiesel refining in Malaysia; jatropha in India, and power generation in India. Its biodiesel production facilities are comprised of two separate transesterification refineries that convert feedstock oil to biodiesel located at Port Kuantan, Malaysia. Its feedstock business is engaged in growing and selling jatropha saplings from its nurseries to contract farmers. Mission NewEnergy has two wind mills, which had generated and delivered 6,082,344 kilowatt hour of total electricity as of June 30, 2011. The electricity is supplied to the Maharashtra State Electricity Distribution Company Limited under a power purchase agreement that expires in 2021. In April 2011, the Company conducted its initial public offering in the United States and listed on the NASDAQ Global Market.

Mission NewEnergy Limited is a global provider of sustainable, renewable energy. Operating in Asia, India, Australia, Europe and North America, Mission NewEnergy is a biodiesel producer and one of the world's largest Jatropha plantation companies.  At full capacity we can produce 105 million gallons of biodiesel and have over 234,000 acres of plantation representing a sustainable non-edible oil supply of an estimated 27 million barrels. Jatropha Curcas, an inedible biofuel feedstock, is being cultivated by Mission's contract farmers on arid, marginal lands.  Through the realization of Jatropha by-product value Mission is working towards a zero cost of sustainable non-edible fuel source. To learn more, visit www.missionnewenergy.com .

Share Sturcture
OS: 8.63M shares
Float: 4.79M


2011 Q3:

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Total revenue up 297% over same period last year to $18.1 million
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Net profit up 269% over same period last year to $8.4 million
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Buyback of $15 million 2012 convertible note debt
 
Subiaco Western Australia, November 10, 2011 -- Mission NewEnergy Limited (Nasdaq: MNEL, ASX:MBT), a global provider of environmentally sustainable biofuels, today announced its unaudited financial results for the first quarter of the 2012 fiscal year, ended September 30, 2011.
 
"We are delighted to kick off the fiscal year with a strong financial quarter.  Our biodiesel refining operations continue to deliver positive cashflow to our company as we build our Jatropha supply, with sales into the European and Malaysian markets.  During the quarter, we have also significantly strengthened our balance sheet by buying back our 2012 convertible notes at a significant discount," said Nathan Mahalingam CEO, Mission NewEnergy Limited. "Our Jatropha operations continue to develop towards providing a captive supply of low cost material for biofuels that we expect to be cost competitive with petroleum products at US$52 per barrel."
 
All numbers presented are unaudited and presented in Australian dollars, unless stated otherwise.
 
Unaudited Results for First Quarter Fiscal Year 2012 - the three months ending September 30, 2011.
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Total Revenue: $18.1 million   é (increased 297% vs. last year)
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Net Profit:  $ 8.4 million    é (increased 269% vs. last year)
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Cash Loss:  $ 2.0 million    é (decreased  26% vs. last year)
 
Cash Position -  $12.7 million.
As of September 30, 2011 the group cash position was $12.7 million.

Financial Results
 
Total revenue for the first quarter of the 2012 fiscal year was $18.1 million, compared to $4.6 million for the first quarter of the 2011 fiscal year, an increase of $13.5 million or 297 percent. The increase in revenue relates primarily to increased revenue from biofuel product sales and recognition of biological asset revenue from the Company's Jatropha business of $3.2 million and the recognition of a gain from the buyback of the Company's 2012 convertible notes of $10.3 million.
 
Gross profit  for the first quarter of the 2012 fiscal year was $12.3 million (excluding the convertible note gain which totalled $2.0 million) compared to a gross profit of $0.05 million for the first quarter of the 2011 fiscal year.
 
Operating expenditure for the first quarter of the 2012 fiscal year was $2.0 million, with the same cost incurred in the first quarter of the 2011 fiscal year. Foreign currency revaluations for the first quarter of the 2012 fiscal year was a gain of $0.4 million, and a loss of $1.2 million for the first quarter of the 2011 fiscal year. Non cash related expenditure increased by $1.1 million to $1.3 million in the first quarter of the 2012 fiscal year, from $0.2 million over the first quarter of the 2011 fiscal year, primarily as a result of the increase in sales of Jatropha saplings and the associated provision for bad debts of $0.8 million and impairment of assets.
 
Net profit for the first quarter of the 2012 fiscal year was $8.4 million compared to a net loss of $5.0 million for the first quarter of the 2011 fiscal year, representing a 269% improvement. This improvement is primarily a result of the $10.3 million gain on the settlement of the 2012 convertible notes and operating performance.
 
Net cash loss in the first quarter of the 2012 fiscal year was $2.0 million, compared to net cash loss of $2.7 million for the first quarter of the 2011 fiscal year.
 
As of September 30, 2011, Mission held a cash position of $12.7 million.  Effective cash as of June 30, 2011, was $20.5 million, the reduction in cash is attributed to the $5 million dollar buyback of the $15 million convertible note debt and $2 million dollar cash loss for the quarter attributable to operations. Other current assets total $19.9 million and the Company's current liabilities total $4.7 million.
 
"Sales in Malaysia for the quarter resulted in a sharp revenue uptick relative to last year. We are delighted to be in a position to sell into multiple global markets, so despite negative commodity spreads for much of the quarter, our refining operation provided a positive cash contribution to our company, bringing us closer to our own captive supply of low cost feedstock," Mahalingam added.
 
**All numbers presented are unaudited and presented in Australian dollars, unless stated otherwise.
 
Business highlights for the quarter ended September 30, 2011
 
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Commenced sales into the Malaysian biodiesel mandate
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Executed term deal for European biodiesel sales commencing January 2012
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Petitioned the US Environmental Protection Agency for approval of g-Palm
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Buyback of $15 million in convertible note debt due in May 2012
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8236278

$40 millions contract for 2012 Q1 and Q2
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8350020
 

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MNELF
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MNELF News: Report of Foreign Issuer (6-k) 09/25/2014 06:03:55 AM
MNELF News: Report of Foreign Issuer (6-k) 09/25/2014 06:03:53 AM
MNELF News: Report of Foreign Issuer (6-k) 09/19/2014 06:00:23 AM
MNELF News: Report of Foreign Issuer (6-k) 09/12/2014 06:02:06 AM
MNELF News: Report of Foreign Issuer (6-k) 09/08/2014 06:05:34 AM
PostSubject
#986   You think the upward momentum will continue in Bjdev89 02/14/12 11:59:34 AM
#985   Added a few more shares today... :) Gooddolphin 02/14/12 11:57:44 AM
#984   MNEL: needs to consolidate for a few days. hpham10 02/14/12 11:06:27 AM
#983   Morning shake now time to bake... ;-) Lotto123 02/14/12 10:13:52 AM
#981   1.50s will come again ;) $King 02/14/12 09:57:12 AM
#980   Think your about 20 min late on that Er0ck 02/14/12 09:49:38 AM
#979   MNEL dropping back to 1.50s $King 02/14/12 09:48:28 AM
#978   I'm right there with ya. Looks like Lone Wolf 02/14/12 09:47:35 AM
#977   Yea but the bigger problem is they are Er0ck 02/14/12 09:46:34 AM
#976   I just saw that. Disappoiting. runningwithscissors 02/14/12 09:45:39 AM
#975   Quick drop this morning but a heck of takinprofits 02/14/12 09:44:45 AM
#974   You're right! Doesn't look good for March and April Fonzy35 02/14/12 09:44:28 AM
#973   http://missionnewenergy.com/files/1077089.pdf And yes, its pretty bad news... Er0ck 02/14/12 09:39:33 AM
#972   Bad News? Where's the link for the recent Fonzy35 02/14/12 09:38:08 AM
#971   wrong board, sorry. runningwithscissors 02/14/12 09:23:35 AM
#970   Locking in profits is never bad. Great job! runningwithscissors 02/14/12 09:01:51 AM
#969   Yup, we'll let the buyers and sellers decide. runningwithscissors 02/14/12 08:42:31 AM
#968   Its still undervalued so who knows... Bjdev89 02/14/12 08:31:15 AM
#967   Indeed. Im selling but will be buying back Bjdev89 02/14/12 08:30:10 AM
#966   Sell then... To me, it sounds like it Er0ck 02/14/12 08:28:14 AM
#965   The revenue increase was approximately 3 million dollars Bjdev89 02/14/12 08:26:56 AM
#964   My $1.68 sale yesterday is looking pretty good Whisper Number 02/14/12 08:24:49 AM
#963   They eliminated a ton of debt, which yes, Er0ck 02/14/12 08:24:45 AM
#962   They had a net profit of 8.4 million Bjdev89 02/14/12 08:24:40 AM
#961   Please read the posted article in my last Bjdev89 02/14/12 08:20:54 AM
#960   Perhaps i have misread (and I hope thats Bjdev89 02/14/12 08:19:32 AM
#959   Not only that, but this is for the Er0ck 02/14/12 08:16:29 AM
#958   Company posts good fins/info. People will try runningwithscissors 02/14/12 08:13:42 AM
#957   So trippling the revenue and going from a Er0ck 02/14/12 08:12:28 AM
#956   Thats kind of underwhelming Bjdev89 02/14/12 08:09:39 AM
#955   Financials of $3.8M Net Profit Filed/Reported runningwithscissors 02/14/12 08:02:27 AM
#954   Opening & Closing price today stockmagnet 02/14/12 07:56:52 AM
#953   Going to open up today at $2.00! Kev2128 02/14/12 03:53:55 AM
#952   I think you made your point cleared. You hpham10 02/13/12 10:52:47 PM
#951   lol MM working overtime hpham10 02/13/12 10:51:22 PM
#950   it's very low volume. Don't have to worry hpham10 02/13/12 10:50:12 PM
#949   I'll check it out...be there after it tanks Lotto123 02/13/12 10:35:36 PM
#948   Crossed over and volume cometh... ;-) Lotto123 02/13/12 10:31:45 PM
#947   LOL...hey bro...yep been in for a few days Lotto123 02/13/12 10:26:32 PM
#946   Hey Lotto. When did you sneak in Lone Wolf 02/13/12 10:22:45 PM
#945   It's funny. Despite the tight SS and Lone Wolf 02/13/12 10:20:32 PM
#943   Thank you much. Wishing everyone to be very MASTERTRADER 02/13/12 09:18:23 PM
#942   MACD crossing; RSI just into power zone, this runningwithscissors 02/13/12 08:42:09 PM
#941   Beautiful call MasterT Ilhabela777 02/13/12 08:35:53 PM
#940   I saw that....you think I don't keep one Lotto123 02/13/12 08:16:34 PM
#939   Hey bro.. Look at the date and the MASTERTRADER 02/13/12 08:15:05 PM
#938   MNEL - Daily Candlesticks Liking the plenty of Lotto123 02/13/12 08:12:41 PM
#937   Hey MT.... :-) Great to see you here..... Lotto123 02/13/12 08:11:33 PM
#936   Nice day here folks, Congrats!!! MASTERTRADER 02/13/12 08:02:48 PM
#935   Someone posted on the yahoo board that it runningwithscissors 02/13/12 07:28:22 PM
PostSubject