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I don't ever remember seeing anywhere that the Reading plant was to be the savior of the company. It was just another location. Frankly, I am glad that they will be concentrating on the Perry site. It is vitally important to get one plant up and running and then other sites should follow. GLTA
I emailed Adam and asked if the company was selling shares to pay the day to day operating. He emailed back that they are not selling at this time. If not them then who would it be?
Longgg, I don't really think that the post you have made should be considered negative. Rather they have been very realistic. They would come across as negative if they appeared to be made with an agenda, which don't seems to be. You were probably wise to have sold some in Dec (wish I had done so). It has been easy to add to a position at the present prices and if all goes well the risk should result in a reward. GLTA
codaras, thanks for that update. other than the sp, things are looking UP.
ferbil, welcome aboard. I'm shocked that we now have 3 newby posters that were all born in the same week.
GLTA
codaras, thanks for the Monday morning education. I see that T. Fletcher's blog at least requires him to jump through some hoops before making his case. I visited his site and felt like he was making a case not born out of pure hype. Actually, nothing he said was earth shattering and was given with the understanding that there was both risk and reward in BION.
I would say that the blog from T Fletcher pretty well summed up where we are at this time. He made it clear that this is a speculative stock but has potential for a high reward in the end. LLLong is totally right that the key is for the EPC to be completed so we can get on to the construction phase. The best part of going through the website was to see that BK is no longer listed there.
Flour, I'm not really sure what makes you say that the blog codaras referred to is a 1 article blog. Do a little research and you will find that he has written regularly for some period of time. I'm not trying to engage you in a pissing contest because at my age time is too valuable to waste. GLTA
I took out the remaining .03 shares so we will see if our big seller is still here. Maybe he is just taking the day off.
Love to see the increase in volume. I hope it is just the very early stages of getting things up to a respectful level. I will feel much better when the daily average vol is higher than the number of shares I own. Also, we can only hope that the accumulation is going to some strong hands and not day traders willing to dump for a few bucks.
Welcome back OOTS to go along with our 2 newbies in the last week.
codaras, the new group might explain why BK is no longer in the picture. It was probably a condition of their support that he be gone. Now if they can find the right person to move us forward we should see better times.
Flour-power, welcome aboard. I hope it will be a very profitable experience for and our other newby this last week.
GLTA
Somebody really wanted 250K shares and NITE did all they could to get them the full amount. They had a blocking bid of .037 @ 15K shares to keep anyone from effectively increasing the BID. I am sure if there was a bid of 15K @ .037 it would have been filled quickly and there would have still been the same ASK hanging there. There is nothing wrong with that and it leads me to believe that there might be some new interest and when news does come there will be a nice increase in the sp. On the discussion concerning the warrants, they have a strike price of .06 which does not mean the go away at the end of June if we don't reach that #. The holder can still exercise them by paying the price for them even if the are under water. It will be very interesting to see what happens and very telling if they are exercised in that manner. That would indicated that the holder was VERY confident that the sp would be increasing. I'm feeling a bit better about the future of BION. GLTA
difumetti, I was wondering what site you have used to follow BION. Maybe it is a site that others here can look at if they offer more information. I hope the 6500 shares is just the start of a position that will make you some serious $$$. GL
codaras, thanks for the update. I emailed a respectful complaint to IR this week and asked about the contract for the preliminary site work at the Perry plant. Adam agreed that he is not happy with the lack of information that is flowing to the shareholders. He also told me that the contract for which bids were submitted last Dec has not yet been let. I wonder if the is a time limit that will require those bids to be resubmitted. The only positive that I have gotten recently is my share price average has dropped below .06. Hopefully we will have some additional leadership soon and some information will start to flow our way. GLTA
That can only be seen as a step in the right direction.
codaras, I did buy some more this week but was not me doing the paint job. I did see that an email was out with the new BOD appointment. For whatever reason, I do feel like things are coming together. GLTA
One small but somewhat pleasant surprise for me was the outstanding shares had not grown as much as I had resigned myself to think they would. If they can get the EPC done this quarter (hopefully May) I can live with the share count.
Traderwebb, you did one hellova job driving those crickets out of the room. Now I hope the company will be more forthcoming and try to keep the investors updated. Aircorp, I hope you mean your bags are packed but you are waiting at the station for a bit longer. If you are truly leaving then I wish you good luck where ever you land.
codaras, thanks for posting. I'm sure everyone would like to see a much sooner timeline but at least we have some progress. I wonder what the time is between EPC, bond sales and ground breaking. As long as the company will be open with regular updates, I can be patient. Some increase to the sp should happen with each event. I would like to see the company have a presents at the Midwest "Farm Progress Show" this summer.
7 1/2 days-----not even the crickets can stand this kind of silence
It was an email. You can sign up for emails on the site.
March 9, 2015
Dear BioNitrogen Shareholder:
In the light of the recent drop in our stock price, we thought it would be a good idea to provide you with an update on activities in the company and to reassure you that there is no cause for concern.
As previously announced, BioNitrogen continues to work with its engineering firms and contractors to advance to a Firm Fixed Price EPC contract in the first half of 2015. The completion of the contract is an essential step in moving the entire process forward that will enable the company to build the initial plants.
As you know, we have been awarded a $300 million private activity bond value cap allocation to issue tax-exempt bonds for the acquisition, development and construction of the plant in Taylor County and Hendry County Florida. The EPC contract is essential before we can issue the bonds.
We have been assured that the issuance of the bonds should be a smooth process as there is a ready market for bonds of this nature.
It is important to note that BioNitrogen has contracted with only world class vendors and engineering consultants to ensure the integrity of the engineering and construction of its plants. Although these negotiations have taken additional time, management is confident that this is a good long term investment. All too often, companies cut corners in the early stages of a project, only to regret it later. Furthermore, this process has already resulted in approximately $50 - $75 million in cost savings per plant.
Disbursements under the $5 million loan from the Taylor County Development Council with a cash collateral guarantee from the City of Perry, continue to fund site work and engineering for the plant. Our best estimate is that construction on the Taylor plant will commence in the second half of 2015.
At the same time, BioNitrogen is exploring additional plant sites in other parts of the country that will provide opportunities for the company to expand its footprint.
We recognize that this process has taken longer than expected but management continues to adhere to its strategy of building environmentally-friendly plants utilizing patented technologies that will revolutionize the fertilizer industry.
Yours truly,
Carlos A. Contreras, Sr.
Chairman & CEO
Thanks coladas. I don't feel so lonely with a cricket in the room Sitting outside drinking wine on my 18th floor in shorts. It isn't really that warm but am very good at pretending. Hopefully we will be getting news soon. Is there anything new from the PA front? GLTA
I have been on the road for 2 days and decided to look to see what is going on and there has not been a post since I last check in before leaving. Trader......... the crickets have taken over!
codaras thanks for all of the work you do on this. I hope I can return the favor sometime. AND-----that wasn't me that painted the tape with 100 shares. I was on the treadmill and saw it when I got home. It sure feels to me that we are getting closer to some kind of news. A company update would be welcome. GLTA
Longgg, the only post that was taken down turned out to be covered by a non disclosure so I am alright with that. The only problem that lingers from that is that it was so poorly handled. A simple post saying why it was removed would have save a lot of time and misunderstanding. Also, they would not have to have spent any $$ for the legal eagle to explain.
codaras, if the weather is above 65 and I can walk on the beach, eat lots of fresh fish, drink a little wine and maybe hit a few golf balls at a range it will be a good trip. The only activity I have planned outside of that is a trip to the Naval museum on the way down. I hope to find some information on my old squadron and maybe get a cap to replace my old lost one. I think Perry should be an easy day trip from Panama City Beach.
Would love to see BION work its way back up to the 50dma and the 200dma. GLTA
Thanks codaras. I don't know why that will not come up when I try to open it from the main page. I did get it in my mailbox. I hope AC is right on what he is hoping for next from the company. I am leaving Thursday for Florida and if time permits I would like to run over to Perry if there is anything there to see. It would have been nice if the contract for initial site preparation had been set in motion. it would do us all some good to see movement in that direction.
It won't come up
Do we have another deleted message
Where oh where
is a goo0d tape painter when you need them......LOL
Trader.............talk about crickets.. I think they have taken over the trading room. Maybe the selling is gone!!!! GLTA
There are a few post from yesterday that seem to have vanished. There wasn't anything of great importance in them so I'm sure they had something to do with the maintenance that was done yesterday. Let's hope the selling has passed and news will bring some buying. After yesterday, I have reach my limit on the # of shares that I will own so I hope that others will see this as an opportunity and add to their positions or start new. GLTA
codaras, just to get a reaction from you, I started to paint the tape. I had the trade loaded but couldn't pull the trigger. I hope today is just an indication that the selling has passed. It would be nice for this to slowly move in the right direction. GLTA
I have made some buys at the ask and somebody moves right back in with a lower ask. we will have to wait until whoever is done. In the mean time I am adding on. GLTA
I wasn't finding fault with your assumption and you may be right. The sad thing about it is that if it is the company selling they cost themselves (us) a hellova lot of money with the handling of a post that needed to be deleted.
peafunke, I would doubt very seriously that if the company were selling shares to make payments that they would drop the ask so drastically. They could sell shares and still keep the price at a different level. If, however, they created this drop to sell shares then I think they are a hellova lot dumber than I thought. Whatever it is I still saw it as a buy and I have to say I have been very wrong before.
After reading the information and listening to the meeting audio I came to the same conclusion as swikey that it was creating another buying opportunity-------so I did. GLTA
Trader.....keep posting as it gives me a good reason to come here and enjoy what you have to say. I'm not sure if you fell off of any truck but it didn't keep you from seeing the manipulation that can take place. You might also want to watch trades that have numbers such as "999","9999" or other such numbers. I have for years watched LII and see odd trading after such trades. I should have written them down and logged what happened after such trades to look for whatever. Somehow I feel that MMs use them as signals when they have an agenda. Yesterday we finished with a trade of 9999. Don't get me wrong, I am not suggesting some grand conspiracy just the daily MM manipulation that takes place in "pennyland". We will get out of this with some real news at some point.
F4B, I am sure the selling today is panic selling from the very poorly handled deletion of the information yesterday. I got an email from Adam that some of the information contained in the post yesterday was subject to a NDA. It would have been very simple for that to have bee stated at the time and avoid this type of reaction. Maybe this is a buying opportunity if you think there is any reason to believe anything the company puts out.
Thanks codaras! That was a good listen. I was surprised to hear the person from "econ devel" committee say that they feel they may be able to break ground in April. That was sooner than what I got from the read I had before the mysterious disappearance. It makes it even more of a mystery why the sp is being held down. I'm stumped!
I have tried to think of a logical reason that the company would hold the price down and nothing I come up with makes sense. The warrants are exercisable at .06. There are 47M of those plus the 10M held by BK (B group) Holding the sp down would be stupid in his case unless he exercises them below the strike price and then watches the sp go up. That seems too far fetched. The only reason to hold the sp down is someone trying to pick up cheep shares which is stupid given the depressed price. None of this makes much sense at this time and we sure as hell get nothing from investor relation or CB104 who is probably one in the same. Been to 3 county fairs and ...... goat......contest and never experienced such craziness. Might have to figure out a way to contact the BOD instead of BK or Adam.
Thanks Dave,
I have a bank meeting this morning and then will dig in again. I'm trying to do too many things at one time this morning. I still might take the time to run over to Perry from Panama City in March if my wife wants me to get lost for a day.
Thanks Dave for the link but I have scrolled through it 3 times and have not found the information on BION