OTC market makers are notorious thieves...this morning bid 15 cents....ask 27 cents
Old news..except my program with Schwab list level 2 plus day change are not working...they were yesterday...and years ago when we were OTC everything worked
Nice volume buddy.
Gave you a follow  , hit me back thanks.
Sure...as long as their in business
BUY IN THE THIRTYS___SELL IN THE FORTYS.
Hope you're right...I'm staying till the cavalry arrives
I SOLD OFF , NOW TIME TO BUY.
Raising 400,000 when you only have 300,000 on hand is like ringing the funeral bell. I'm not selling, because if I do it will go to $ 1.00
3 slowest trading days of the year with a 3 day weekend in the middle? It is called RIBT market makers on vacation.
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?
so far ( it's 5:42 EST ) stock has traded 370,000 shares since the close of .54 Current vos is 590,000 Most of the sales have been at .72...it got as hi as .735 Never have we seen this volume AFTER HOURS...hope we find out whats going on...we've had false starts before
$RIBT A new SEC filing out thus AM that they replaced the auditor. The new one said they saw nothing wrong with the filings. I admit i don't understand why it happened, could be good if it a last minute thing before a sale, but doubt that. The volume is not speaking of a disaster. Maybe we get a nice last hour.
Apparently the stockholder meeting is not going well
$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>>>>>
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.
I am not buying and I am not selling.....but I am crossing my fingers that Keanelly knows what he's doing
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.
As all of you know I am a 20 year shareholder with losses in the high 6 figures...I have steadfastly believed in this company, and while I hate to be negative ...but with the stock closing at .71.it's hard to imagine anything other than an impending disaster. Second qtr loses were 10.3 million, due to an approximate loss of 8 million on the sale of the plants they got rid of
The ONLY asset the company has is their loss carry forward which is worthless to a company buying them out since the loss stays with RIBT and THEY would need to buy a company to maintain THEIR loss carry forward ------this does not recognize that there can always be some fudging and twisting of the accounting in a sale,
Fatto and all, first, the below is my hopes and opinion. I have not heard what I am posting from anybody, my own guess. Buy or sell at your own risk.
Q2 might have been bad so they postponed putting the results basically until the next Q. Q2 had a lot of money possibly going out with extra work for the sale of the bran. It must be hard to sell a company with a bad Q because it can't be sold only for only tax losses carried forward. So. Keneally found a legal way around it from having to report the losses now and they become available about the same time as Q3. And RIBT could possible get a higher sale price with better numbers.
Q3 could be very good. At the Q1 CC they stated that MGI, who had just double production capacity was already getting new business from it. Golden Ridge who was lacking bran from farmers hired a dude to get more. Golden Ridge could be doing well also. And remember, RIBT sold the big losing part of the business, the rice bran. The drawback is Q3 has been a slow Q some years.
I hope we get an explanation at the shareholder meeting next Wednesday. Again, I have not talked to anybody connected to RIBT in anyway except conference calls. They are being so tight with info that there are not the usual rumors floating around. I don't even call the PR dude guys anymore and they are NEVER of any value anyway, just there for public relations.. This is all my dot connecting and it may all be wrong. I am not recommending the stock and not buying. And I could be TOTALLY WRONG.