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FRBE SEC Suspension:
http://www.sec.gov/litigation/suspensions/2013/34-70354.pdf
Order:
http://www.sec.gov/litigation/suspensions/2013/34-70354-o.pdf
Admin Proceeding:
http://www.sec.gov/litigation/admin/2013/34-70355.pdf
News the other day created some bagholders here...
The FRBE news is outstanding, but put that aside, stockholder equity is around a $1.00/share per the last Q.
CFO was given a warrant last year to purchase 400K shares at $2.45 per share. Other warrants they have out have an excise price of $8.00.
Per the FRBE last annual report, the float is around 4.75 million.
There are some outstanding warrants with excise prices of $2.45 and $8.00.
from the last Q..Authorized: 500,000,000 shares with par value of $0.001 per share, issued 8,221,356 shares, outstanding 7,921,356 shares, as of January 31, 2010
No kidding, sure moves easily too.
Four Rivers BioEnergy Signs Biodiesel Sales Agreement with BP Oil International Ltd.
PR Newswire
CALVERT CITY, KY, March 29
CALVERT CITY, KY, March 29 /PRNewswire-FirstCall/ - Four Rivers BioEnergy Inc. (OTCBB: FRBE) ('Four Rivers' or 'the Company') is pleased to announce that its UK subsidiary, Four Rivers BioFuels Limited ("BioFuels") has secured an agreement with BP Oil International Limited, a wholly owned subsidiary of BP plc (collectively "BP") for the sale of a minimum of 60,000 Metric Tonnes per annum of EN 14214 specification (blended) biodiesel ("Biodiesel Product") from its UK facility for an initial term of five years.
The contract term will commence when the UK facility reaches the minimum production amounts to fulfil the contract delivery requirements. Four Rivers' strategy is to ramp up the UK facility to meet the delivery requirements and to expand overall production capacity of Biodiesel Product from the current 77,000 Metric Tonnes per annum to 100,000 Metric Tonnes per annum over the next seven months and then to 200,000 Metric Tonnes per annum within the next 36 months. This strategy includes development of the Company's own port and storage facilities at the nearby deep sea water port in Blyth.
Four Rivers is actively seeking financing for the working capital required to expand the UK facility and is negotiating with supply sources of the feedstock from which the Biodiesel Product will be manufactured. Both the financing and the feedstock procurement are pre-requisites for being able to deliver under the contract.
Stephen Padgett, Chief Executive Officer of Four Rivers commented, "We are delighted to execute such a major contract with BP, which represents a significant milestone in the strategic development of the Four Rivers group's activities. The BP contract is an endorsement of our strategic approach to realizing the potential of biofuel and renewable energy by acquiring distressed assets and turning them around operationally, financially and commercially through the application of our expertise and technology, and partnering with world class energy companies."
About Four Rivers BioEnergy, Inc.
Four Rivers BioEnergy, Inc. is realizing the potential of biofuel and renewable energy by utilizing financial and operational expertise to aggregate biofuel and renewable energy assets, integrate value added technologies, and drive significant increases in efficiencies, output and profitability. Additionally, 4Rivers is committed to commercializing the STT(R) technology worldwide. STT, Magellan and Innovator are registered USPTO trademarks of Four Rivers BioEnergy, Inc., all rights reserved.
About BP
BP is one of the world's largest oil and gas companies, serving millions of customers every day in more than 90 countries. BP's business segments are Exploration & Production and Refining & Marketing. It also has a low carbon business in BP Alternative Energy with wind, solar, biofuels and low carbon power/carbon capture projects. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's good faith views and expectations when made. Forward-looking statements are inherently subject to known and unknown risks and uncertainties which, in the case of the company, include raising adequate capital to continue operations, technology and product development uncertainties, competition, cost and availability of feedstock, and plant development and manufacturing scale up. Actual results may differ, perhaps materially, from those discussed in the forward-looking statements. The company discussed in this release is not obligated to update its forward-looking statements or comment on those differences. Readers are encouraged to refer to the recent public filings of the company to further ascertain the risks associated with the forward-looking statements. Readers are urged not to place undue reliance upon such statements.
SOURCE Four Rivers BioEnergy Company Inc.
Timestamp:
March 29, 2010 12:08 EST
Contact Information:
regarding Four Rivers please contact: Stephen Padgett, Chief Executive Officer, Tel: (270) 395-0176, Fax: (270) 395-0323, Email: stephenpadgett@riv4ers.com; Martin Thorp, Chief Financial Officer, Tel +44 207 499 1730 or +44 77 1717 5500, Fax (270) 395-0323, Email: martinthorp@riv4ers.com; Laurel Moody, Investor Relations, Corporate Profile, LLC, Tel (646) 810-0608, Email: lmoody@corporateprofile.com
thank you for posting it. i looked at it and dont really no what to say. i am hoping for some good news, actually any news would be great to get people interested in this stock would be grt.
Anyone see this interview with Martin Thorp, CEO of Four Rivers BioEnergy Inc. interviewed by Chelsea Lovett at Redemption Bar?
http://www.corporateprofile.com/?p=292
Essence of Wealth
Warren Buffet would like this stock,
it is not to trade. It is to own forever.
The price of crude oil keeps climbing,
so this company has a better chance to execute its business plan.
Four Rivers BioEnergy Inc. Announces GBP3Million Strategic Acquisition of BioDiesel plant in the United Kingdom
Tuesday April 7, 2009, 9:40 am EDT
Buzz up! Print Related:Four Rivers BioEnergy, Inc.
CALVERT CITY, Kentucky, April 7 /PRNewswire-FirstCall/ - Four Rivers BioEnergy Inc. (OTCBB: FRBE - News; "Four Rivers'' or "the Company") is pleased to announce that it has acquired the BioDiesel plant and other existing assets of Blyth, Northumberland based, V-Fuels Biodiesel Limited under a 'pre-packaged' arrangement out of administration, working with the principal creditors, and the administrator.
Related Quotes
Symbol Price Change
FRBE.OB 2.90 0.00
{"s" : "frbe.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""} Gary Hudson, President and CEO of Four Rivers, commented "We are delighted to have reached this agreement. This acquisition includes proprietary technology for application in the bio-fuels industry, and follows on from the STT® technology acquisition that we recently announced. The assets acquired match our acquisition criteria very well. In particular we have acquired a complete, currently dormant, but previously operational biodiesel plant, that is differentiated in terms of technology, location and logistics and which we believe will shortly be fully and commercially operational and offers plenty of scope for expansion. We were also attracted by the ability to expand the existing business, use the excellent logistics of the site and local infrastructure and apply proven technology from other industries. We also intend to use the considerable construction and financial structuring experience we have within the Four Rivers team, combined with the excellent team at V-Fuels, to maximize the value created from these assets for our shareholders".
Stephen Padgett, Four Rivers' Vice President, added "We are pleased with the way in which this transaction has been structured. We have not made any payment to the vendor for the assets, but have invested new money into the acquired assets to enable us to resume operations and improve the facility. We are delighted that the vendor, which is a substantial hedge fund, stays as our co-shareholder with 13.75% of the share capital".
Dan Cross, Managing Director of V-Fuels Biodiesel, said "These are very exciting times for everyone concerned with the Blyth manufacturing facility and I am very much looking forward to working with likeminded people at Four Rivers. The acquisition of the plant by Four Rivers brings together two groups of people with a desire to successfully develop the green energy market across the USA and Europe and with the expertise and vision to successfully develop other green business opportunities".
This acquisition includes:
- A fully licensed biodiesel plant based in Blyth capable of producing
approximately 120,000 tonnes (35 million US gallons) of biodiesel, and
currently one of the largest biodiesel manufacturing plants in Europe;
- A site and manufacturing plant with current expansion capability to
become the world's leading manufacturer with a capacity of up to
1,000,000 tonnes of biodiesel per annum (300 million US gallons);
- Unique technology to utilise a variety of feed stocks including Used
Cooking Oil to produce European (EN14214) and American (ASTM D6751)
specification biodiesel with a significantly lower carbon footprint
than biodiesel manufactured from virgin feed stocks;
- A 140 acre site with excellent road network and seaport access and
with the potential for further development.
At signing of the acquisition agreements, Four Rivers will advance GBP300,000 (approximately $432,000) to secure the acquisition from the administrator and effect a discharge of current liens. At closing, Four Rivers will invest a total of GBP400,000 (approximately $580,000) in new capital into the new corporate vehicle that has acquired the assets, which amount includes a conversion of the GBP300,000 initial advance, for its 85% equity interest. At closing Four Rivers also will lend GBP2,600,000 (approximately US$3,800,000) to the new corporate vehicle, by way of secured loan. All of the cash invested and advanced will be used to commence operations and for improvements and expansion. As part of the acquisition, Four Rivers will issue a warrant to the vendor, BlueCrest Strategic Limited, to acquire 200,000 shares of common stock, at an exercise price of $8.00, exercisable until December 31, 2012. The acquisition agreement will have provisions that permit Four Rivers to acquire and to require Four Rivers to buy the equity interest of the vendor, and provisions that permit Four Rivers to include the vendor's interest in a complete disposition of the facility. Management of the facility on a going forward basis will be under the decisions powers of Four Rivers.
About 4Rivers
Four Rivers is a development stage integrated bioenergy company in Calvert City, Kentucky, in the early stages of the design and development of its initial facility, capitalizing upon an extensive permitted site with excellent waterborne, rail and road logistics. Four Rivers is run by a dedicated team highly experienced in the construction, operation and trading risk management of biofuel and petrochemical plants and mergers and acquisitions. In tandem with the Calvert City development, Four Rivers intends to pursue selective acquisitions of undervalued traditional plants and technologies for utilization in the bio-energy space, to build shareholder value. To find out more about Four Rivers BioEnergy, Inc., visit our website at www.riv4ers.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's good faith views and expectations when made. Forward-looking statements are inherently subject to known and unknown risks and uncertainties which, in the case of the company, include raising adequate capital to continue operations, technology and product development uncertainties, competition, cost and availability of feedstock, and plant development and manufacturing scale up. Actual results may differ, perhaps materially, from those discussed in the forward-looking statements. The companies discussed in this release are not obligated to update their forward-looking statements or comment on those differences. Readers are encouraged to refer to the recent public filings of each company to further ascertain the risks associated with the forward-looking statements. Readers are urged not to place undue reliance upon such statements.
EmailIM Bookmarkdel.icio.usDigg Buzz up!
Up $1.50 Friday or up 60%...
nice day. There should be more interest in this board soon.
Kreido Biofuels, Inc. (OTCBB:KRBF - News) today jointly announced with Four Rivers BioEnergy Inc. (OTCBB:FRBE - News) the closing of their previously announced sale and purchase of substantially all of the assets of Kreido Biofuels to Four Rivers BioEnergy.
Four Rivers acquired Kreido’s spinning tube-in-tube STT® reactors and STT® technology, as well as its modular biodiesel production plant equipment and related assets. The purchase price for the assets, which closed on March 5, 2009, was approximately $2.8 million in cash, 1,200,000 shares of Four Rivers BioEnergy common stock (including 300,000 shares in escrow solely to cover Kreido warrant exercises), a warrant to purchase an additional 200,000 shares of Four Rivers BioEnergy common stock at $8.00 per share, and the assumption of certain purchase orders. The cash proceeds will be used to settle obligations to creditors. The Four Rivers BioEnergy common stock and warrants will be held by Kreido for 360 days, after which time the shares may be sold or distributed.
With the completion of the asset sale to Four Rivers BioEnergy, Kreido released Philip L. Lichtenberger, Chief Operations Officer, from his obligations to Kreido.
Gary Hudson, CEO of Four Rivers BioEnergy, stated “We are excited about our acquisition of this transformational technology. We believe that the STT® technology and the biodiesel plant equipment will help to accelerate the development of Phase I of our multi-product, integrated bioenergy facility near Calvert City, Kentucky.”
The sale of assets was approved by the Kreido stockholders at its annual meeting held on March 4, 2009. At that meeting, the stockholders also re-elected Ben Binninger, Betsy Wood Knapp, David Mandel and David Nazarian as directors.
Ben Binninger, Kreido’s CEO, commented, “The transfer of Kreido’s technology and assets to Four Rivers BioEnergy is consistent with our goals of satisfying our obligations to creditors and allowing our stockholders, through our ownership of Four Rivers BioEnergy stock and warrants, an opportunity to benefit from their loyal support of the STT® technology.”
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