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no problem.
BTW, any idea how to upload pictures from my computer to this message board? I can't figure it out. I have pics of office, the site, biomass piles, and biomass being delivered.
All,
Finally got a chance to sit down and write down some thoughts from my visit I had to BioNitrogen. I want to attach pictures but am having trouble. Can anybody help w/that??
I am on vacation in Florida and about an hour and fifteen minute drive North of their office in Wauchula. Given that I am down here, I couldn't pass up a chance for a visit at the BioNitrogen office. I had a great visit with Brian Samuels, Hardee County Facility Manager, who was dressed in his BioNitrogen polo shirt. He really seemed like the perfect choice for the position as his roots are from that area, he knows all the major players in the town, has lots of connections to people in power, plus he worked at Mosaic and has lots of experience in the fertilizer industry. I really think he'll be great for bring the construction phase of all this together when they break ground.
I got to look at the parcel maps with him regarding the site for the proposed first 3-5 plants in Wauchula. I learned that the large fertilizer company, CF Industries, is located just north of their piece of property, as well as another large fertilizer company, Mosaic, located to the west of their property. If you recall, CF, is the company they entered into an agreement with for getting biomass. CF Industries is digging ground for phosphate fertilizer and BioNitrogen is getting their biomass created created from that process. I had assumed with that massive amount of acreage they purchased that they would be clearing that themselves for biomass material, but he said if they clear any for that it'll be minimal and not noticeable. The main focus is to get renewable biomass from the sources they have around them, stuff that was going to be wasted anyway. The actual part of the property where they will build the plant(s) is already open and flat. He described to me that they'll have to basically dig part of that area up and they will end up selling the topsoil that is excavated. Trust me, there were all kinds of other specifics about the building process he shared but my visit was a few days ago and being on vaca, I haven't gotten a chance to sit down and put all my thoughts together in writing. It was all technical stuff that probably won't mean much to many of us; but suffice it to say, he certainly knows what he's talking about.
After chatting at the office location, Brian Samuels drove me to visit their actual 600-acre piece of property. We entered through a locked gate...I think on the Southwest corner of the property. There was also a large electric power station, Florida Power & Light (FPL) abutting their property. There may be some ongoing discussion w/FPL about supplying electric power to their proposed plants from that generator station, but the specifics and technical aspect of that are beyond my ability to explain with any lucidity. haha. Sorry can't give more info on that. I saw the first piles of biomass that they have actually started to collect on their property (so, yes, that PR was true). In fact, a delivery was happening when we arrived.
I know there have been a fair number of naysayers on this board, as well as people showing support of the company; and I have personally been on both sides of the fences. Initially I bought in without doing any DD on the people behind BION but rather focused my DD on the patent applications, technology, need for increased fertilizer production in the US, merit of the company and need for their product, etc. It was only after I invested that I learned of the shady people like Claude Eldridge and John Jarvis (thanks to nodummy and FlaFlyersFan) behind the reverse merger, which formed BION.
I still can't wrap my mind around why a bunch of seemingly intelligent people behind BioNitrogen (who created the whole technology to convert biomass to nitrogenous fertilizer) would reverse merger with the shell HIDE controlled by a couple of notorious scammers. Maybe they didn't do their due diligence with that shell company? Maybe they UNknowingly allowed insider enrichment? Maybe they knowingly allowed insider enrichment b/c they have connections with Eldridge and Jarvis? I don't know. That is my biggest question and concern with BION.
Regardless, I wanted to share the info I learned. BioNitrogen does truly exist, as if the evidence of all their meetings with the BCCC in Hardee County and the meeting minutes/agendas, video of the meeting with the BCCC, etc haven't been enough.
Yes, they are making good progress to the start of construction of their first plant. I think it's really a matter of not IF they will build a plant but WHEN. I personally wanted to go down and see everything for myself while I was down in the area...and wanted to share w/you what I found. It definitely made me feel more comfortable in my investment. Please don't take this as advice to buy, hold, or sell; make your own decisions, as I will make mine.
Didn't know of that website. Thx for the source and the date. Appreciated.
I can't find the post in here but someone earlier posted when BMY's financials were supposed to come out and predicted that might be when a merger/buyout was announced. Can someone please post that date again when BMY's financials are due? Thx.
Thanks, Codaras, for posting that. I kept going back to that site to find the presentation but lost interest after a while because it didn't get uploaded quickly. Thanks for being persistent.
P.S. I'm on vacation in Florida heading home soon, though. While I was here, I couldn't pass up the opportunity to visit Bionitrogen. Will be posting a recap (and pics if I can figure out how) of that visit with Brian Samuels at both their office and 600 acre site in Wauchula. I was very impressed. More later.
Hey, TW,
That was a pretty good interview. We commented on it on this board here; but I think you were busy with a new job and probably didn't get a chance to notice it. You can my comments about it here:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=84885382
You can see from my comments that I was a little skeptical about their goal of opening so many sites by a certain date but clearly with their slew of PRs they have stuff in the works that we didn't know about at that time.
Go UConnnnnnnnn!!
I'm pretty sure that construction is supposed to be 18 months. Considering they haven't cracked ground yet, nor started selling bonds, best case scenario is that they start construction beginning of third quarter 2013 with completion end of fourth quarter 2014. So no product till start of 2015.
Hopefully. Maybe info has been leaked about the results they're supposed to release at the end of the quarter.
Volume and price action might be related to this:
[url][/url][tag]http://seekingalpha.com/article/1245551-trius-therapeutics-new-msra-treatment-could-bring-billions-in-revenues?source=email_rt_article_readmore[/tag]
The new coffee place is NOT "right on University" as you stated. It's over a mile away from the ASU campus. I copied/pasted the pertinent info below from their PR about it:
In a release, the Company noted that the newly constructed location is at 1845 E. University Drive, Tempe, approximately 6000 feet from the ASU campus is situated in conjunction with Arizona's first green construction and technology car wash.
Last I checked, 6000 feet is over a mile away from the campus (5280 feet in a mile).
They probably intentionally said that it was 6000 ft rather than saying it's "over a mile" away b/c listing it in feet makes it sound closer than it is.
And, FWIW, I'm not short. I actually have no money invested in this stock (never have), but I thought about it after stumbling across it in my research one day. I really like the idea (which seems to be very popular in Northwest part of the country), but from all I can gather in my research about the management, they are not very good at running this business. As many have posted earlier, there are lots of unfulfilled promises and fluffy PRs.
I watched all those YouTube videos about the supposed TV show they were hoping to have. It actually looked like it was going to be quite entertaining. Had that ever taken off, things might have been really different for BCCI. Maybe it still will, but who knows?
I emailed BH for info about the company when I was looking into trading it, but I never even heard back. It was just some general questions that any IR person should be willing to answer. Certainly didn't instill any confidence in me to invest.
Also, whenever you open up a new store and feel the need to put the stock ticker on the sign, you know what his true motivation for his business is: selling stock for money. Not selling coffee.
Agreed for the most part that the last handful of months' worth of PRs have been delivered. It was the earlier ones when the pump was going on that have not been realized. One outstanding initiative is getting off the Pinks as we have been discussing for quite some time. The PR for that, if I remember correctly, came out initially last March. We are almost one year from that point. It's been one delay after another and vague responses from IR about it. Still not exactly sure how I feel about that whole thing. Again, I'll believe it when I see it. Even if they do go from Pinks to OTC-QX or OTC-BB or whatever, there is still plenty of opportunity for fraud in that market as well. Would I welcome the upgrade? Sure. But I don't think it's the be all and end all. NASDAQ, NSYE, etc...Ok,then you have my attention! Not that that's happening anytime soon. I'm still long here, and I'll give them the benefit of the doubt; but I'll be cautiously optimistic. All the best to you, Sola, my friend.
LR8
Nice interview; thanks for sharing.
I think their 3-yr goal of having 10 plants is probably a bit far-fetched, though. If it takes 18 months to build one plant, they'd have to get really cracking on all the planning, funding, construction for all the other proposed plants. Seems unrealistic to do all that in three years, esp. without dilutive financing...unless they are miraculously able to get tax-exempt bonds and venture capitalists to invest private money without more share issuance. I recognize that they could be working on plans for other future plants as we speak, but I had asked this very question to Adam end of last year and he said the company was focused 100% on Hardee County plant and not anywhere else. The reason I had asked about other plants was in reference to one of their earlier PRs:
http://www.marketwire.com/press-release/retransmission-bionitrogen-corp-bion-q1-2012-shareholder-report-pinksheets-bion-1640973.htm
Either way, everything seemed a little pie in the sky early on in their history, like how much the plants would cost to build, how long it would take to build, and how many plants they would build.
Don't get me wrong: I've got nothing against reaching for the stars and having big goals, and I still like this company; but I'll patiently wait for the first plant before I start dreaming about multiple plants.
Have a nice Friday and weekend, everyone!
That would certainly be nice! Here's to a buyout!
Welcome, JohnCM. I am a holder in one of the same shares as you where you frequently post and always appreciate your posts over there (online coupon/discount arena, starting with letter "G").
Anyway, good luck here! I'm new to TZYM myself. A little less new than you, but new nonetheless!
GLTA.
I think a merger or buyout would be excellent for us. I'm sure they would like to do that as well, esp. with their MATCH technology being very promising. There has always been that rumor of Bristol Myers Squibb, obviously. Does anyone think that this PR was released simply to drum up interest in this stock in an effort to get the price back over $1 to beat the deadline before delisting? Hopefully it wasn't just a fluff PR...but that they are really going to do their due diligence on a potential merger/buyout. They have a lot of cash on hand and their company stock valuation should be higher than it is now; it's undervalued at this point. Let's just hope they're not resorting to these types of PRs to inflate the price but rather that there is real substance behind them! Good luck all TZYM longs!
I think it's "toxic" because it'll have a dilutive effect on the stocks when all those other ones are converted to free trading shares.
I liked the deal with BB&T because it didn't sound like it was going to be dilutive but all this other stuff with the purchase of the land using some stock and now this recent PR, it's not the most ideal. I thought we were really fortunate that the $150 million from BB&T was through bonds and not stock, but all this other stuff is the type of financing we probably don't want :(
Thanks, Codaras.
It'll be interesting to learn more about the effect of all that.
You mean you owned "HIDE" a few years ago, right? BION, as we know it, didn't exist a few years ago. It was Hidenet (HIDE), but eventually it became BioNitrogen (BION) after a reverse merger.
BioNitrogen had its Articles of Incorporation filed with State Treasurer on 9/13/11. Then, according to the "Initial Company Information and Disclosure Statement Pursuant to Rule 15c2-11", their symbol of HIDE didn't change to BION until December 20, 2011. So BION has really only been trading for a little over a year...not a few years ago.
I look at the Yahoo Message Boards for my stocks as well as these message boards on IHub. In my opinion, these boards are much better. I don't think there are moderators on Yahoo, so anybody can post anything...and most of the posts are from bashers. Plus, there are constant spam posts linking to websites purportedly that give great reports on the specific stock. Not sure what the website really is to b/c it's probably a virus link or just some non-legit website with a really weird address. But it's clear that they are bogus b/c you get all these random posts after that post saying "great info", "thanks for the report", "going there now," "just signed up, thanks", etc. Completely unbelievable and obvious fake email addresses/identities created to pump or complete whatever agenda they have over there.
I will admit that there are boards over here where there are probably paid pumpers and shenaningans on some of the boards, but Yahoo's forums are pointless to me. Much rather view and post opinions over here!
Sounds good about the extra land purchase. What exactly does the $1.7 million in stock warrants mean? And what does that mean for us holding shares of BION. Does that make them worth less?
No problem. You are always right on with your info and research, so you're allowed a mistake every once in a while!
Glad you had a nice Christmas. And I agree with you. The future years should be even brighter w/BION.
Here is info about why they didn't build the plants in Texas from their press release (i.e. not enough biomass):
http://www.marketwire.com/press-release/bionitrogen-corporation-announces-agreement-to-purchase-biomass-in-florida-pinksheets-bion-1689696.htm
I have copied and pasted the pertinent info below:
Earlier this year, BioNitrogen announced that it had signed a Letter of Intent to construct a fertilizer plant in West Texas. Due to a reassessment of both the availability of appropriate biomass and the potential market for urea in the region, the company has decided to postpone any expansion in West Texas and focus its resources and capital in Hardee County, Florida. As noted above, Hardee County has both a large supply of wood-based biomass and a large potential market for urea, making it an ideal location to build BioNitrogen's first plant. At some point in the future, the company may review the feasibility of a plant in West Texas.
They scrapped the plans because they came to the determination that, after further consideration, there wouldn't be a good enough supply of biomass available for their plants there, in Lubbock and Levelland.
Congrats, Mr. Wowza. Nice profits you took home.
As I mentioned before I wish I hadn't sold a bunch of my shares so early. Still holding some, though. I also wish I could have invested a larger amt of money up front and over time as some other posters here but I don't have the funds to make such large investments. Still making profits, though; so that's good.
I'll buy more when (if) if this comes down.
Merry Christmas, everyone.
Wish I didn't sell a majority of my shares at $0.07 during the initial run up! I was hoping that I could sell to make some profit and then buy back, assuming the price would drop again, but it never dropped. That's my luck.
I didn't sell and buy back during the run up and run down in August/September because I was afraid it might not go back down. This time around I sold thinking it would come back down (maybe it still will), but I definitely sold WAY too early. That's my typical luck at stocks. I guess I can be happy that I took profits when they were to be had, so that's good. I will hold onto my remaining position and will buy back when (if) it comes back down to Earth. I'm too reluctant to sell the rest of my shares with the way this has been heading up.
Good luck to all.
I wonder why they hired a new auditor.
They had hired Cronin & Company back in March.
http://www.marketwire.com/press-release/bio-nitrogen-corp-bion-to-commence-up-listing-to-the-otcqb-pinksheets-bion-1628945.htm
Now they hired Kaufman, Rossin & Co as the auditor.
http://www.marketwire.com/press-release/bionitrogen-corporation-appoints-kaufman-rossin-co-as-new-auditor-pinksheets-bion-1735064.htm
If you reread my post, you will realize I never said that you said their process was "fake." I simply made a hypothetical statement that if bion's execs knew their own processes were fake and could get VCs to commit that much money, then they are really good at what they do. Who knows...we investors who are bullish may turn out wrong, hit we could also be right. As you can tell from my previous posts my conviction over bion had gone back and forth. Right now I'm feeling good about their business. I hope I'm right.
KBRTX, you are certainly entitled to your opinion and to express it. Even though I disagree with your viewpoint, I appreciate your thoughts. I think hearing two sides to this story makes us all better investors. That being said, you still didn't answer my question, which was how do you or some "team" in Canada have full access to BioNitrogen/KBR engineering report?
You had said, "The engineering reports to date are clear on one important point, the process BION says works cannot be 100% reviewed and guaranteed until such time that a plant is operational. Then and only then will their process become validated. The lead attorney in CAN confirms this engineering review."
You also said, "We are fully aware of their engineering partners and studies and these opinions come directly from these reports."
I just find it hard to believe that somebody outside of KBR/Granherne and BION can get their hands on the engineering report to make decisions about it. I would assume that BION had to share it to the investment company as well b/c no matter what you say, I really don't think a group would shell out $150 million without being confident that the plant would produce fertilizer. If BION execs truly know their idea is fake and can get somebody to give them $150 million, then they must be REALLY good con artists. I, personally, don't believe that.
Lastly, what did you mean by "the lead attorney in Canada confirms this engineering review"? Did you mean that a lawyer looked at the report and is making engineering suppositions about it or did you simply mean that the lawyer confirms the reports were obtained and reviewed by a separate group of engineers?
Thanks
I can't wait until when we can look back at this post (and many others) and laugh when real construction actually begins!
Ahhhhh, ok. I thought the actual video wasn't working for you. Thanks for reposting the link for others to see. you are right, I think the message was deleted.
I'm not sure why you think that they would build a 150 million dollar plant if they didn't know for sure that their idea would actually produce urea fertilizer full scale. Nor do i think that the investment company would commit that much money for the "potential" of product. Sounds dumb to me.
KBRTX, how do you or some "team" in Canada have full access to BioNitrogen/KBR engineering report? I emailed Granherne a while ago and they confirmed the relationship with Bionitrogen but they are not about to give out specific engineering details (not that I wanted them...and nor should they). BioNitrogen is keeping their cards close to their chest.
I will have to go through my research because I did find the name of the company that tested the idea (I assume on a small scale) and that it was successful. I wish I had that at my fingertips but will try and post later when I get a chance to find it again. Maybe others out there remember seeing this at some point as well and can post if they have it.
Also, I wanted to share that I contacted Enterprise Florida a few days ago and and they emailed me back from information@eflorida.com and said the Florida Development Finance Corporation (FDFC) is processing BioNitrogen's application for a conduit tax-exempt bond issuance. The Hardee County hearing was a necessary sep in the process. No final decision has been made yet.
That was an email they sent me PRIOR to Thursday's meeting at the BCC.
P.S. I like how your screen name KBRTX is a mixture of KBR (the engineering company) and TX (the state they were going to start their first plant in but then changed to FL).
The webcast still works for me. Click on the link you provided, then go to the link "BCC Regular Meeting 11-15-12", which will take you to another window so you can view the videos. Click on Event 4, titled "Frank w/Bio Nitrogen." I was able to watch it last night and found it very helpful in installing confidence in me regarding the company.
I'm going to try and sit down and digest the quarterly report tonight. I perused it really quickly but want to look at it more thoroughly. Will post questions and comments when I can. Have a nice weekend everyone.
Great, thanks, Codaras. Wish I had gotten a chance to view the webcast. I didn't even know that was available to watch online.
I'll drink to the news of a groundbreaking ceremony in early 2013 :)
I'm curious about that, too. I clicked on the old link and it said "The job you’re looking for is no longer active." Don't know if that means the job was filled or they stopped looking. But, yes, things seem to be moving in the right direction. Not sure if you looked through all those agendas and minutes that I posted about but it certainly seems like they are getting all their ducks in a row.
Another LinkedIn job posting from BioNitrogen. This time it's Operations Project Manager. Last time it was Financial Controller (see post 10078)
http://www.linkedin.com/jobs?viewJob=&jobId=4094812
Found this online, which might be of some help with people's research of BION. The link below contains library PDFs to all of the agendas and minutes of the Hardee County Economic Development Council (EDC) for the year of 2012. I think Traderwebb has already posted the link to the September minutes in another post, but I figured I'd provide the link, which I just came across for the list of all the minutes.
http://www.hardeebusiness.com/public_records/public_records_2012_EDC.htm
Pay particular attention to the agendas and minutes for March, April, August, and September, as those are the ones that deal with BioNitrogen.
As an aside, if you're OCD like me, you'll notice that the person who typed the minutes in August used the template from July and forgot to change the date. The date for the minutes in August should have been August 14th not July 7th. The agenda correctly shows the date, but the minutes showed the wrong date. Just wanted to point that out so you don't think you clicked on the wrong link or think they uploaded the incorrect file.
It's interesting to see that BION had been working with Florida on this since at least March.
Gotcha. Makes sense. Thanks for your thoughts, Solaking.
Here is the link to the PR in case you need it:
http://www.marketwire.com/press-release/bionitrogen-receives-approval-to-issue-bonds-for-plant-in-hardee-county-florida-pinksheets-bion-1722401.htm