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#2 FOLLOW FOR YOU , WE ARE ALL DOWN!
Nice volume buddy.
Gave you a follow [92] , hit me back thanks.
$0.40
Day's Change
0.0339 (9.26%)
Bid
0.36
Ask
0.40
B/A Size
400x100
Day's High
0.40
Day's Low
0.324
Volume(Heavy Day)
39,254
EVERY DAY A NEW HIGH.
Every day a new low.
Gave you #194 follow , hit me back ___$RIBT
RIBT new 52 week low
BUY IN THE THIRTYS___SELL IN THE FORTYS.
I SOLD OFF , NOW TIME TO BUY.
RIBT new 52 week low
RIBT new 52 week low
RIBT new 52 week low
TRUE , MR.BESDIN.
Some one needs to get back in?~~~~water under the bridge , and allthat sh!t etc.
I just have a free membership. The Barchart 100 list and the section about new highs and new lows from the Market Momentum are all I use. The membership also allows the use of flip sectors when I check the specific sectors pages ~~~~~~~~YOUR QUOTE , SO YOU ARE BUYING?
RIBT new 52 week low
LowHigh
% Above Low (08/24/22 - 08/24/23)~~~~~~~NOTE THE DATES!
$RIBT Q2 PR
Carl,RIBT made it's first quarterly profit ever, unofficially. They took out the same condition after the sale of the bran business. I hope we hear a bit more from the SH meeting Wednesday.
Below the whole PR>>>>>
https://finance.yahoo.com/news/ricebran-technologies-reports-second-quarter-200600243.html
TOMBALL, TX / ACCESSWIRE / August 21, 2023 / RiceBran Technologies (NASDAQ:RIBT) ("RiceBran" or the "Company"), an innovator in the development and manufacture of nutritional and functional ingredients derived from rice, barley and oats, today announced financial results for the second quarter ended June 30, 2023.
Eric Tompkins, Executive Chairman of RiceBran, commented, "The divestiture of our stabilized rice bran ("SRB") business during the second quarter was the first step in a process aimed to reduce costs and curb losses, creating more optionality to explore strategic alternatives and better position the Company to realize the value of its remaining assets."
"Operationally, RiceBran delivered positive gross profit in 2Q23 from continuing operations, reversing prior quarters of gross losses, due to improved efficiency, recent capacity enhancements and higher volumes," Tompkins added. "Moving forward we are focused on further rationalizing our costs while exploring any and all alternatives to create value. With an ongoing strategic process in place and the Company's Board of Director (the "Board") actively evaluating a variety of potential outcomes, we have opted to forgo a quarterly conference call until a time when we are in a better position to share more meaningful disclosures on our strategic progress."
Second Quarter 2023 Financial and Operational Overview
Revenue: Total revenue from continuing operations was $6.3 million in 2Q23, down 4.7% from 2Q22 as lower MGI Grain Inc, ("MGI") milling revenues were offset by an increase in Golden Ridge Rice Mills ("Golden Ridge") milling revenues.
Gross Profit: Gross profit from continuing operations for 2Q23 was $24,000 compared to a gross loss of $0.4 million in the second quarter of 2022, reflecting higher gross profit at Golden Ridge related to increased volume and at MGI due to the elimination of certain operational inefficiencies.
SG&A and Operating Loss: SG&A from continuing operations increased $0.4 million year-over-year due to increased legal costs as the Board continues to explore strategic alternatives. Loss from continuing operations before other income (expense) was $1.6 million in 2Q23, consistent with 2Q22, because the impact of improved gross margins was offset by increased legal expenses.
Loss from Continuing Operations and Loss from Discontinued Operations: The Company reported a loss from continuing operations of $1.8 million in 2Q23 compared to $2.2 million in 2Q22. RiceBran also reported a loss from discontinued operations of $8.5 million in 2Q23 compared to $447,000 in 2Q22. The loss from discontinued operations reflects the sale of the SRB business, including a loss on the sale of $8.6 million.
Net Loss and EPS: Inclusive of the loss from discontinued operations, net loss was $10.3 million in 2Q23 compared to $2.6 million in 2Q22. Loss per share from continuing operations was $(0.27) in 2Q23 compared to $(0.41) in 2Q22. Loss per share from discontinued operations was $(1.27) in 2Q23 compared to $(0.09) in 2Q22.
Balance Sheet: Total cash was $0.3 million at the end of 2Q23 down from $3.9 million at the end of 4Q22, after repayments of $3.0 million on the Company's factoring, line of credit and long-term debt and finance lease liabilities. Our current liquidity, consisting of cash and availability from our factoring facility, is $0.6 million.
In our continuing operations, during the first half of 2023, we used $1.3 million of cash to fund operating activities and $0.3 million for capital expenditures. This was offset by the $1.0 million of cash provided by the SRB business' operations and its June 23,2023 disposition.
besdin, you have been a contrary opinion RIBT indicator for 20 years. You now say "disaster". So is that a "Buy Buy Buy" contrary indicator? Well, I have done no better, but for a couple of fewer years. I did sell a couple of times and bough back in lower, but does not mean much with the current price.
My case for holding until at least next Wednesday and the shareholder meeting>>>
1.$8m losses will never be recurring.
2. Of the $2m part of the loss, how much of that was lost revenue and profits from the weak part of the company, the rice bran segment when they sold over 1/2 way through Q2?
3. At the time of the rice bran sale, we were half way through Q2. At that CC we were told that the doubling of expansion at MGI was already showing new revenue. For a segment that was increasing revenue in Q1, do you know how much MGI did revenue a profit/loss MGI did on it's own in Q2? Any idea how it's doing now?
4. Golden Ridge, how did it do alone Q2, nobody knows that either, except insiders. In that segment on it's own did it make a profit and had increased revenue? How's it doing so far in Q3. On points 3 and 4, only top management knows the answer. We did have a bran source problem in 2022, 2023 was to be much better with a new source.
5., Former head Bradley was paid in warrants priced a "0". Mitchel and board members have tons or warrants priced at "0" as well. Keneally received 100,000 warrants priced at "0". I got to believe what is going is to get something from somebody that gets the stock up from here.
6. The federal NOLS useable of 44.7m and guessing 9m shares outstanding with warrants factored in, if we could get 1/3 of them, that is $1.65. If the buyer could use a tiny bit of the state NOLS, add .35, now $2.00 . We sold the financial black hole, rice bran that was costing us up the wazoo and we now could have a profitable business', cash flow neutral at worse. Q3 with good figures could get us sold.
I had my $3 fair value for a sale estimate, before the SEC s flings and much more possible. I doubt that this is all a charade to give insiders time to sell their shares. I believe what they are doing is time tested and legal. Why would they risk jail time. These guys losing .72.5 per share from here if it goes to ZERO, that is chicken feed for them. I still hope for at least $3 share price, 3 months from now. I am using the Besdin indicator and going contrary to his advice, at least until Wednesday. I am holding and preparing to add if any thing good comes fron the SH meeting.
