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Nothing material has happened in the last quarter.
ALTO is fully reporting. The cost of the Madera facility and operating it was above their sale price which means they lost money on the sale.
Alto keeps selling facilities and they keep selling shares via “share offerings”.
They keep doing these things instead of showing investors that they can turn a profit.
It’s no wonder that their share price is regularly under pressure.
Good luck but ALTO is a losing company...and what’s worse is that it’s ran by nepotistic dummies.
You deserve credit on GPR$ , looking for forward P/E correction on Alto. New management have a vision.
Well
I hope you sold yesterday
Bye , I’m buying today!! Lol
This stock is absolute GARBAGE!
GPRE has been my play since late 2020 and it’s up over 600%
ALTO needs constant babysitting and nonstop calls to ALTO management to find out just WTF kind of business they’re running.
This company cannot even pay off debts or their monthly bills without selling facilities at a loss.
Avoid this stock. It’s garbage.
In February they started their ALTO Twitter and haven’t even used it one time since they rang the bell at the NASDAQ in February.
I’m lucky I got in so low. Today...I’m selling. I’m selling every last share of this garbage stock.
Lololol!
ALTO just surrendered over two weeks of gains in the first 3 hours of today’s trading.
I haven’t found any news that commands a near 10% loss so far this session...so it must just be because ALTO is a terribly managed company with a poor performance track record and a record for zero investor transparency.
read the documents, they were sold to pay the taxes on their other free stock
I’ll ask again...
Why are Company Officers SELLING shares?
ALTO Form 10-K highlights Filed 03/26/21 for the Period Ending 12/31/20:
link to 10-K
*Net sales were $168.8 million, compared to $357.6 million.
*Cost of goods sold was $155.2 million, compared to $354.4 million.
*Gross profit was $13.6 million, compared to $3.2 million.
*Selling, general and administrative expenses were $6.7 million, compared to $11.8 million.
*Operating loss was $14.2 million, compared to $37.9 million.
*Net loss available to common stockholders was $20.5 million, or $0.30 per share, and included an impairment charge of $24.4 million related to thecompany’s Western assets. This compares to a loss of *$41.4 million, or $0.85 per share, for the three months ended December 31, 2019.
*Adjusted EBITDA was $16.4 million, compared to $1.9 million.
Sheesh?
Why is the ALTO CCO (Chief Compliance Officer) selling his shares?
He’s the guy who’s in charge of making sure ALTO execs and employees are following regulatory requirements and compliant with policies and procedures.
Makes me wonder if he knows there’s an issue with ALTO regulatory compliance.
Yeah...
Overall the numbers are good EXCEPT the net sales and loss per share.
Wall Street was looking for higher net sales and a profit per share of $0.30.
That’s why this stock has been nearly or over 20% all morning.
I think that ALTO should have issued an 8K warning investors of terrible net sales.
Instead they issued press releases of how successful their specialty alcohol unit was doing.
Those press releases were terribly misleading.
$ALTO Financial Results for the Three Months Ended December 31, 2020 Compared to 2019
?Net sales were $168.8 million, compared to $357.6 million.
?Cost of goods sold was $155.2 million, compared to $354.4 million.
?Gross profit was $13.6 million, compared to $3.2 million.
?Selling, general and administrative expenses were $6.7 million, compared to $11.8 million.
?Operating loss was $14.2 million, compared to $37.9 million.
?Net loss available to common stockholders was $20.5 million, or $0.30 per share, and included an impairment charge of $24.4 million related to thecompany’s Western assets. This compares to a loss of $41.4 million, or $0.85 per share, for the three months ended December 31, 2019.
?Adjusted EBITDA was $16.4 million, compared to $1.9 million.
Wow!
What a huge miss on top line and bottom line results.
This reminds me of when the coke-head son took the helm after his dad passed away in the movie “Horrible Bosses”.
Jeeeesh
I got this one wrong for sure.
What will never cease to amaze me is the utter lack of compliance.
I’d think that an 8K would have let us know in advance that sales and orders had so enormously been missing expectations.
If ALTO (and I mean IF) beats estimates then it’ll soar.
The problem is that ALTO (formerly known as PEIX) does not traditionally offer guidance and WS may not take kindly to that.
I guess we will see in about an hour or so.
Lol!
This stock can’t seem to figure out which way it’s headed?
I still believe in Jesus take the wheel
It’s clear that Reddit may be trying to crush the low short percentage so there seems to be a “back-n-forth” between hedgies and retail.
I guess you just have to pick a side here.
Correction: PEIX is ALTO.
Earnings after the bell.
Look for $0.24 per share on $234.25 million.
ALTO real time is down $0.08 per share @ $7.23 and gave up a nice gain with a session high of $7.66.
$ALTO Back towards 8 soon with next news release
Should ask member name Dutch1 they may have your answer
What commodity index or indices are useful to follow?
Hahaaaaaa
Omfg
Haaaaaaaaaaaa
Just a recycled scam.
ALTO is well underway with their plans to convert a significant portion of their production facilities from ethanol to more profitable specialty alcohol production and sales are up.
Go $ALTO - Keep selling lots of medical and food grade alcohol, wet and dry distillers grains, quality yeast, high protein feed, pet food, and renewable fuel. ALTO is not just about ethanol any more. The future is bright for ALTO as their 2021 specialty alcohol production has already been contracted at fixed prices for terms of one year or more and they expect long-term tailwinds from continued growth in demand for specialty alcohols and essential ingredients.
This is my last post to you.
Here:
https://www.google.com/amp/s/seekingalpha.com/amp/news/3646471-pacific-ethanol-pares-down-debt-creditor-repayment
Sheesh man!?!?!?
What aren’t you understanding here?
They raised $105 million dollars and they paid down under $30 million.
It reduced REVOLVING (that’s basically their AMEX or Visa or MasterCard) debt to $30 million.
They restructured the rest AND YES...this was in a press release and the SEC filing.
That’s it man. I’m not here to do your DD.
I’m happy that the stock is going higher.
I hope it makes you and me a lot of money.
My facts? You posted that
It’s in their press release.
Why in the world would you need a link to press releases you can easily see right here in iHub?
moneym8ker I see nothing from about a week ago. The name change pr was posted Jan 13 (3 weeks ago) with no mention of only paying off only $30 million and restructuring the rest. The previous pr with info regarding what you posted is dated 12/21/2020, or over 6 weeks ago.
In 12/21/2020 pr the company states
Pacific Ethanol Pekin, LLC and Illinois Corn Processing, LLC paid $24.9 million in connection with the amendments, repaying all term debt and reducing the borrowers’ revolving lines of credit to $30 million in total...expects to be net term debt free, meaning its consolidated cash exceeds its remaining term debt, at the end of 2020.
It’s in their press release.
Why in the world would you need a link to press releases you can easily see right here in iHub?
Link for those statements?
About a week ago they announced that instead of paying off that debt they opted to pay only $30 million off and restructure the rest.
I saw that.
It’s a respectable firm.
As we are seeing today, when the markets are so broadly down and have seen so much volatility this week it could the stock could easily go much lower before a trek to $11.00.
It’s like that old phrase where people throw the baby out with the bath water.
Ok. Opportunity is out there to expand and diversity production. I have no problem at this time with management decisions. I would like to see some updates. My guess is we will see ALTO go lower with the market. That is not a judgement, btw, just general market conditions.
As far as the fee for the registration change, it is Very expensive for small investors, and if we are lucky the share price will try to compensate.
Target 11 by Guggenheim today
They raised $95 million dollars with a share offering.
The name change, cusip # change and associated fees should be nothing more than a drop in the bucket.
Should be nothing more.
The pressure on PEIX is purely due to the fact that they raised a lot of money with their share offering and said they’d use it to pay off part of their $135 million dollars in debt.
They also sold an asset valued at $10 million and said they’d use those proceeds as well to pay off their debt.
About a week ago they announced that instead of paying off that debt they opted to pay only $30 million off and restructure the rest.
They raised $105 million dollars and said they’d use that money to pay off most of their total of $135 million.
They shocked investors when they changed their mind and paid off $30 million and restructured the rest.
Piss poor management or outright misrepresentation is pressuring the stock.
I know it’s all in the fine print and they did say in their stock offering that they want to use it to pay off debt but can use the proceeds at their discretion but when their headline is that they’ll use the proceeds to pay off debt I think most investors expect them to use $105 million to pay off more than $30 million
I have a question. How far down will the symbol& cusip change and related fee push PEIX's pps? Peix will open as ALTO on 2/1
It is my opinion based on info in all the recent pr's that $ALTO will outperform PEIX and generate ongoing and increasing revenues.
the next K, Q, or whatever the next filing is called that sums up financials should speak volumes.
PEIX has followed the DOW in the past but look at the past few days here and it has been all up with no news so something is going right.
Cheap shares here now with $ALTO the train is leaving the station
PROFITS FROM REVENUE there will most likely be in the next Q. They are selling soooo much extra fine grade alcohol and have contracts throughout 2021.
Someone posted that the chart was broken and it is because PEIX is experiencing a Paradigm Shift also. I misspelled Paradigm Shift in my previous post. I.E. they have switched production from ethanol to very hi grade alcohol: Medical, Food and drink quality alcohol
$PEIX is also investing in a capacity expansion of their yeast facility to increase annual production by 15%
Next quarterly filing should tell the story of just how much they have been selling and will continue to sell with contracts in place throughout 2021.
The majority of our 2021 specialty alcohol production has already been contracted at fixed prices for terms of one year or more. We expect long-term tailwinds from continued growth in demand for specialty alcohols and essential ingredients.
Nothing that you said made any sense
PROFITS FROM REVENUE there will most likely be in the next Q. They are selling soooo much extra fine grade alcohol and have contracts throughout 2021.
Chart could be broken but the company has had a paragram shift also.
Next Q should tell the story
Just be careful trading this.
Without a recovery back above the 50 day moving average the chart is broken.
As of right this second and several times today it’s below it’s 50 DMA.
Falling below the 50 DMA so frequently today is proving the 50 DMA to not be a strong support line.
Well, demand for their products has increased and given the pandemic, sales will continue. There will be a run up post earnings.
The cusip change will engender a mandatory charge.
I don’t disagree that the balance sheet is improving BUT NOT WITH PROFITS FROM REVENUE.
The balance sheet has improved because they issued $95 million dollars worth of stock and sold a $10 million dollar asset.
I’m happy that they diversified products and put a focus on specialty alcohols.
It’s not “new management” because they promoted their new CEO from within the company.
The new company name makes no sense. ALTO is a variance of a musical note.
What does ALTO have to do with Ethanol or Specialty Alcohols?
I’ve done the research. ALTO has zero to do with alternative fuel or specialty alcohols.
It’s like they got drunk one day over lunch and brainstormed for a new name. One of them, without doing any research into what ALTO means said “ALTO sounds like a cool name” and the rest of them blindly agreed.
The stock is down OVER $1.00 per share in just two sessions and session #2 isn’t even over yet.
Well, they switched product emphasis and diversified so become more flexible to market demands. They do have new management, which is a very good thing. The balance sheet is improving as market conditions do. They had unused capacity and said they are upgrading to reopen capacity. I will do some more research about that.
Well, they switched product emphasis and diversified so become more flexible to market demands. They do have new management, which is a very good thing. The balance sheet is improving as market conditions do. They had unused capacity and said they are upgrading to reopen capacity. I will do some more research about that.
I followed them pretty closely for a while.
I know they just sold a chunk of property for $10 million late last year.
Other than that, who knows what those knuckleheads are up to.
Late last year they did a $95 million dollar stock offering and sold a $10 million dollar bit of assets.
They said at the time they had around $135 million in debt and were going to use the proceeds of the offering and asset sale to pay down that debt.
Instead, they held onto most of the cash and opted to pay down $30 million in debt.
They also said they expect to be net term debt free by the end of 2020 meaning their available cash should exceed debt.
While that last part MAY SOUND GOOD and MAY LOOK GOOD on a balance sheet it doesn’t!
They flat out misrepresented the stock offering. In bold print they said they’d use the proceeds to buy down debt but in the fine print hidden deep in the offering prospectus they said they’ll use the proceeds as they see fit.
That’s one reason why the stock seems to be under constant pressure. Wall Street doesn’t much like when you do an offering and misrepresent what the proceeds are for.
They made $105 million dollars between the offering and asset sale and decided to hold onto most of the cash and pay down just $30 million.
On a balance sheet it only looks good but isn’t good. Wall Street wants to see net cash from revenue, NOT FROM PROCEEDS FROM A SHARE OFFERING AND AN ASSET SALE.
It’s just piss poor management coupled with a poor understanding of a balance sheet.
The President signed order To void procurement regs and for DOD to get into clean energy. this is good!
Has PEIX brought all idled capacity back into production?
GREAT!
Another 200 point day on the DJIA.
230 points up on the Nasdaq
All of the major indexes are up huge and even in record territory.
We have a New Democrat President.
PEIX should be on fire today and screaming higher.
Yet here it is...same old story for PEIX because they’re so poorly managed that they manage to be down nearly 5%.
Just like so many other days PEIX opens looking good and gives away the day gains.
Why do they almost always give back gains? Because professionals know it’s a poorly ran company that’s had to rely on share offerings because they can’t manage steady sales revenue profits.
Pacific Ethanol Completes Name Change to Alto Ingredients, Inc.
Pacific Ethanol, Inc.
(You will want to request a symbol change and name change for the board once that happens. Good luck!)
Wed, January 13, 2021, 6:30 AM MST·3 min read
Corporate rebrand reflects enhanced focus on specialty alcohols and essential ingredients
SACRAMENTO, Calif., Jan. 13, 2021 (GLOBE NEWSWIRE) -- Pacific Ethanol, Inc. (NASDAQ: PEIX), a leading producer of specialty alcohols and essential ingredients, has changed its corporate name to Alto Ingredients, Inc., effective January 12, 2021. The company’s name change will be reflected on The Nasdaq Stock Market on January 14, 2021, and the company’s stock will begin trading under a new ticker symbol, ALTO, starting February 1, 2021.
CEO Mike Kandris said, “We have chosen our new corporate name and brand to represent our many high-quality products, which our customers incorporate into a range of vital finished goods that touch people’s everyday lives, from cleaning solutions to pharmaceuticals. We are capitalizing on our unique capability to manufacture high-grade alcohols for the food, beverage, health, and ingredients markets, and to process corn into high protein feed, pet food, and renewable fuel. As we move forward under our new Alto Ingredients brand, we remain committed to our goal of delivering the highest levels of integrity, purity, and quality to create value for our customers, partners, and shareholders.”
About Alto Ingredients, Inc.
Alto Ingredients, Inc. (PEIX), formerly known as Pacific Ethanol, Inc., is a leading producer of specialty alcohols and essential ingredients. The company is focused on products for four key markets: Health, Home & Beauty; Food & Beverage; Essential Ingredients; and Renewable Fuels. The company’s customers include major food and beverage companies and consumer products companies. For more information please visit www.altoingredients.com.
Ethics Committee Urges SCOTUS Review Case Against PEIX...
https://www.law360.com/articles/1341845/ip-ethics-atty-urges-justices-to-take-up-standards-case
IP Ethics Atty Urges Justices To Take Up Standards Case
By Tiffany Hu
Law360 (January 5, 2021, 8:37 PM EST) -- The chairman of an American Bar Association ethics committee for intellectual property lawyers has urged the U.S. Supreme Court to take up the question of whether an issue decided on partial summary judgment but not reopened at trial should be reviewed under an abuse of discretion standard or a de novo one.
Michael E. McCabe Jr., who chairs the American Bar Association Section of Intellectual Property Law's ethics and professional responsibility committee, filed an amicus brief Monday in support of GS CleanTech Corp.'s petition for the high court's review of the Federal Circuit's decision affirming that its patents were invalid under the on-sale bar, which prohibits an invention from being patented if it was sold a year before the patent filing.
CleanTech had argued that because an Indiana federal judge's summary judgment order resolved the issue of invalidity, which was not reopened at trial, the sole issue on appeal was whether the company acted deceptively when it made false statements to the U.S. Patent and Trademark Office. The Federal Circuit should have reviewed the summary judgment de novo, but instead held that it could review the issue under the abuse of discretion standard meant for the lower court's finding of inequitable conduct, it said.
McCabe, also a managing partner of McCabe & Ali LLP, said in his brief that an abuse of discretion standard like the Federal Circuit used is unfair to attorneys accused of inequitable conduct, as a federal court's finding of such wrongdoing will be a "centerpiece of any subsequent disciplinary prosecution," he said.
"Proper review provides reliability, uniformity, predictability and consistency for the members of the Patent Bar as well as the patent applicants and owners they represent," McCabe wrote. "Application of the proper standard of appellate review ensures fairness while promoting uniformity and consistency in decision making."
McCabe told Law360 in an email late Monday that "patent cases often involve issues resolved by summary judgment, and every court — except the Federal Circuit — uniformly applies de novo appellate review."
"The Federal Circuit's application of abuse of discretion review denies the parties the opportunity for a three person panel to deliberate independently and assess the evidence," McCabe wrote. "This did not occur here and hopefully the court will take this case as an opportunity to clarify and align the standard of appellate review for summary judgment rulings."
CleanTech had launched a series of suits between 2009 and 2014 accusing companies of infringing four patents covering the "recovery of oil from a dry mill ethanol plant's byproduct, called thin stillage." The Judicial Panel on Multidistrict Litigation centralized that litigation in Indianapolis.
The case turned in part on an offer by CleanTech to install its system at another company before filing for a patent, which CleanTech maintained was a test, rather than an offer for sale.
The district judge found that this was actually a sale, meaning that the patent application should have been rejected under the on-sale bar. The judge later held a bench trial on inequitable conduct and found that CleanTech's attorneys at Cantor Colburn LLP had failed to make disclosures to the USPTO, making the patents unenforceable.
The Federal Circuit reviewed the judge's inequitable conduct decision for abuse of discretion, while opting not to conduct a de novo review of the summary judgment decision. It affirmed in March and subsequently denied rehearing, prompting CleanTech to lodge the present appeal.
CleanTech is represented by Lawrence M. Hadley and Stephen Underwood of Glaser Weil Fink Howard Avchen & Shapiro LLP.
The various defendants are represented by attorneys from Stoel Rives LLP, Woodard Emhardt Henry Reeves & Wagner LLP, Patterson Belknap Webb & Tyler LLP, BrownWinick Law Firm, McKee Voorhees & Sease PLC, Locke Lord LLP, Michael Best & Friedrich LLP, Stinson LLP and Dicke Billig & Czaja PLLC.
The case is GS CleanTech Corp. v. Adkins Energy LLC et al., case number 20-769, before the U.S. Supreme Court.
--Additional reporting by Dani Kass and Ryan Davis. Editing by Emily Kokoll.
Litterly just Chicago here
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