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Well done, Longgg :)
Now is still a good time to buy :)
BioNitrogen Holdings Corp. Status and Development Update
24 minutes ago - DJNF
MIAMI, Oct. 5, 2015 /PRNewswire/ -- BioNitrogen Holdings Corp. (OTC PINK: BION), a Clean Tech company that owns breakthrough, disruptive technology to produce urea fertilizer from biomass, is pleased to provide an update to its stakeholders on legal and business matters.
On September 19, 2015 BioNitrogen Holdings was notified by our legal counsel that the judge had ruled to deny our motion to vacate the default on the Annon Consulting vs. BioNitrogen et al. case and gave the Company ten days to file a response to the Plaintiff's Motion for Default. While we disagree with the ruling, BioNitrogen management has been working closely with our legal team to prepare said response, which was filed on September 29. Carlos Contreras, Chairman and CEO of BioNitrogen is keeping the Board of Directors and management fully informed and engaged in the process: "BioNitrogen intends to vigorously protect its rights and will continue to work towards a resolution of the Annon lawsuit based on its merits and not on technicalities. This will allow BioNitrogen to present its legal and factual arguments in order to respond factually and conduct discovery while answering to the issues of this case", Contreras stated.
In Taylor County, Florida, Community and Southern Bank has approved a one-year extension to the loan previously extended to BioNitrogen for the due diligence process in Taylor County. BioNitrogen is in the process of evaluating a more appropriate site in Taylor County for the construction of the plant and has agreed to release its rights to the prior site selected to other interested parties. In the event that BioNitrogen decides not to proceed with the site mentioned, it is expected that the liabilities to the Company will be resolved through the party that will take over the site.
In Hendry County, Florida, BioNitrogen management has held meetings with County officials last week and presented an update on the Company and the construction plans in Clewiston. BioNitrogen management and Hendry County officials are also working with the Florida Department of Transportation (FDOT) to discuss matters related to expanding road access to the Weekley Industrial Park plant site in order to accommodate the increase in commercial vehicle traffic from the plant.
BioNitrogen continues to work with the Certified Public Accounting firm towards the completion of the audited financial statements for the Company and it is expected that the process will be completed by the early part of the fourth quarter, 2015. Concurrently, BioNitrogen management and legal counsel are jointly working on the completion of the SEC Form 10 so that BioNitrogen's stock can be up-listed from Pink Sheets to the OTCQB exchange and become a fully reporting entity under SEC Rules.
BioNitrogen also continues to take the necessary steps in order to complete the final phase of engineering in order to enter into the Engineering, Procurement and Construction Contract (EPC). In order to complete the process, having the adequate funding in place is essential. "Completing the auditing and up-listing of BioNitrogen's stock are important steps in developing a solid foundation, including new strategic partnerships in the engineering and commercial areas, and funding to take the Company to the point of commencing plant construction", said Contreras.
I welcome constructive criticism, roni911, and your's was helpful.
First, however, you are mistaken to believe that I'm "telling everyone that this is the way start up companies do business."
To be clear, I maintain that BION's problems are common to start up companies AND I know of no dishonest practices by the present board and management. Only the former President has to worry about facing charges.
If you have evidence of wrong-doing, I'm willing to listen.
As for my stock trading skills, I took the time to evaluate my track record.
I've done well with a simple system that follows 3 "old school" strategies.
I allocate 75% of the total portfolio value to large, high-quality companies.
20% is allocated to trend trading in commodities and leveraged ETFs (both long and short.)
Only 5% of the total portfolio value is allocated to start up companies.
Over the last 30 years, I've lost ALL my money on 3 out of 10 start up companies.
I had minor losses or broke even on 4 out of 10.
I profited from only 3 out of 10 companies.
By those stats alone, I have only a 30% success rate.
HOWEVER, the profits from the winners have far exceeded the losses.
My winning start up companies include:
GILD - bought at $17 & sold at $110
KOG -bought at $0.25 & sold at $18
TSLA - bought at $35 & sold at $270
My profits from 3 out of 10 are substantial.
Losing or breaking even on 7 out of 10 is inconsequential.
What I write, I write for my children and 9 grandchildren.
I share it with everyone for free.
I publish 2 free reports each month.
Please take a look at my portfolio.
BION is one of six start up companies in which I'm presently invested.
I would appreciate your feedback on the other start up companies.
You can sign up here http://tinyurl.com/pmtmj9j
It's free and you can unsubscribe at any time :)
C'mon on now, Roni911, I've been nice to you.
I've respectfully honored your claim that you are Ronald Fussman... in spite of all the indications that you ARE NOT Mr. Fussman.
Another indicator is the fact that Mr. Fussman is not given to name-calling... as you seem to be.
If I have been foolish and lost my money... Mr. Fussman would simply laugh and consider me to have learned a valuable lesson.
He wouldn't be calling me a "fool."
Ronald Fussman is a mature gentleman.
You sound like an angry young man.
Mr. Fussman is a successful and comfortable man.
But, if I'm wrong... feel free to correct me :)
You might be right, doubting, but - then again - this might turn out to be the best time to buy.
It's too soon to tell.
482,540 shares were sold today... more than two and a half times the 10 day average volume.
BUT, 482,540 shares were also bought today.
If this management team has solved the lawsuit problem, those who sold today might look back on this as a BIG mistake.
I bought more BION today.
Soon, I'll know if I was smart... or foolish!
You win some... You lose some.
Consider this :) http://tinyurl.com/o29c93m
You might be right, doubting, but - then again - this might turn out to be the best time to buy.
It's too soon to tell.
482,540 shares were sold today... more than two and a half times the 10 day average volume.
BUT, 482,540 shares were also bought today.
If this management team has solved the lawsuit problem, those who sold today might look back on this as a BIG mistake.
I bought more BION today.
Soon, I'll know if I was smart... or foolish!
You win some... You lose some.
Consider this :) http://tinyurl.com/o29c93m
Hi, The Blues, you are correct about what COULD happen.
But, aren't those things true about ALL new start up companies?
I've lost money on several who have done exactly those things.
That's one of THE major risks associated with start up companies.
I still have confidence in Carlos and the board.
Here's why:
1 - They have kept us informed of the facts and relevant developments. They can't be expected to respond to every negative theory and all of the criticism voiced by the short-sellers, disgruntled former employees, and local activists fighting to stop them from building in their neighborhood.
2 - I don't see the lawsuit and cash shortage as unusual. These are normal circumstances - not only for new companies, but for established companies too. Even after they are up and running with the first plant, there will be lawsuits and cash flow problems to address.
3 - Here's something far more significant with which to be worried: http://tinyurl.com/qf2tj95
I believe you, Gatorlady. :)
By now you have learned that BION has both friends and enemies here.
My apology for making you feel unwelcome still stands.
I hope you continue to learn here.
Keep in mind that many of us have made a serious investment in BION. We want factual information - good or bad - about the company's progress.
Naturally, we are quick to "shoot down" any invalid claims, incorrect conclusions, and irrelevant factors.
Don't let that discourage you.
And... there are those who wish to use this board to harm BION.
I believe that the "short-sellers" are gone. These folks took positions in BION that benefited from a declining price. Most of these folks have made good profits and are now buying BION shares... expecting the price to rise.
That leaves - among those that want to harm BION - disgruntled former employees and those seeking to gain control of this lucrative new company.
Don't assume that everyone here is providing factual data. Some may have ulterior motives.
I suggest that you consider why a career FBI agent - who specializes in embezzlement and fraud cases - was added to the board-of-directors.
It appears that a case is being built to prosecute someone.
Again, I hope you continue to learn here.
Once again... we have more sensational information.
Let's not forget that this is a decision... on a MOTION... in an ongoing case.
This does not settle the case.
Annon doesn't have a way to utilize the patents.
They just want their money back... with interest.
All this decision means is that the case is proceeding in Annon's favor.
Granted, Annon's case has been strengthened.
However, NO ONE, other than Carlos and the present board-of-directors has the competence to utilize the patents and build these plants.
Annon doesn't want the patents.
If Annon gets their money back, it will be because the company succeeds and has the money to repay the loan.
If you let this scare you into selling your shares at a loss, you will probably be selling to me or one of my subscribers.
I'm still accumulating BION shares on the dips.
BioNitrogen Holdings Corp. Appoints Graham Copley to Board of Directors
PR Newswire
MIAMI, Sept. 9, 2015
MIAMI, Sept. 9, 2015 /PRNewswire/ -- BioNitrogen Holdings Corp. (OTC PINK: BION), a Clean Tech company that owns breakthrough, disruptive technology to produce urea fertilizer from biomass, today announced the appointment of Graham Copley to its board of directors, effective immediately.
Graham Copley is a co-founder of Pentant LLC, a strategic advisory business based in Stamford, CT. Graham is a trained chemical engineer and has spent roughly half of his career in the chemical industry and half in investment research and investment banking.
"Graham brings a wealth of knowledge and experience in the Chemical and Financial Industries to BioNitrogen and will play a key role as we achieve crucial milestones to enable the construction of our first plant in Florida, and subsequent plants thereafter," said Carlos Contreras, chairman and chief executive officer of BioN. "His strategic approach and analytical insight in the chemicals space will be a tremendous asset to BioNitrogen. Pentant has been advising BioNitrogen since July and Graham's acceptance of this role indicates the level of commitment and confidence that Graham and his team have in our process and our future. We are pressing ahead diligently with the accounting work and engineering work that is required to get us to a final investment approval for the first plant," added Carlos.
Prior to founding Pentant, Graham Copley was Head of US Equities for Macquarie Securities Group, a Board director of Macquarie Securities USA for 3 years, and a member of the US management committee of Macquarie. Prior to Macquarie, Graham held the role of Global Head of Equity Research for HSBC. In addition to management roles in the equity business, he was a research analyst at Sanford C Bernstein & Co. LLC from 1996 to 2004, covering the chemical industry, where he was consistently ranked within the top three analysts in the sector.
"I am honored to have been selected to sit on BioNitrogen's board," said Graham. "What BioNitrogen is trying to do is not an easy undertaking, as there are very few examples of new technologies launching successfully in the broad Chemical sector over the last few decades. However, BioNitrogen has tried and tested technologies in most stages of the process and this makes things somewhat easier; but probably more important, the company has an offering that people want. While I am impressed by the number of US opportunities that appear to exist, in addition to the initial project, these may be overwhelmed at some stage by opportunities outside the US, where Urea prices are often significantly higher." Graham adds: "Right now, job one is to get the first plant approved, financed and under construction and both Pentant as an advisor and I as a director have no greater priority. The company is weeks away from the completion of audited financials, an important step for up-listing the stock to OTCQB, bringing us closer to breaking ground on the first plant."
Hi, codaras, I'm glad you keep up so well with those reports.
It appears that the whole episode is now getting smaller in the rearview mirror.
Thanks :)
New BION story.
http://tinyurl.com/p5ksd3j
Hi Dave, the mention of foreign interest could be the biggest news in that pr. Urea is relatively dirt cheap here in the US. I've always viewed the offshore market for BION plants as the greatest long term potential because of the greater profit margin.
Welcome back, Gatorlady :)
I'm sorry you lost your friend.
Thank you, LongRun8, for the pleasant response and explanation of your first post to me.
Like you, I prefer a positive discourse about BION's prospects for the future.
Keep in mind, however, that that is not the purpose of everyone here.
( 'sorry that this is a long post, but everything here is important to understand BION's price volatility... and coming turnaround )
.
If you care to fully understand my exchanges with Gatorlady, review her and my initial posts to each other. You'll see that my initial responses to her wild claims were a sincere attempt to help her see the facts - as opposed to the negative narrative being trumpeted by an attack-team of short-sellers that were active when she first joined this board.
.
Presuming that her motivation was to stop BION from building a plant in her neighborhood, I even shared with her my own similar situation.. and how I'm dealing with a private company planning to build a maximum security prison next to a little farm I own out in the country. ( I wouldn't want a BION plant in my neighborhood either.)
.
But, she persisted with meritless accusations and theories about BION's management... convincing me (and others here) that she was part of the short-selling attack team.
.
Subsequently, I ruled that out and apologized for making her feel unwelcome, but she rejected my apology and persisted with her attacks on BION's management.
.
I did not enjoy challenging her invalid claims, but I do not regret challenging false claims - that assisted the short-sellers - as they took advantage of good folks who were being spooked into selling their shares at a loss.
.
Interestingly, Gatorlady's attacks ceased when the short-sellers ended their attack... after pushing BION's price down as low as it would go.
.
However, it remains my conclusion that she is a good person who was simply taken in by the attack team and unknowingly served their agenda as a useful tool.
.
Here's the good news.
.
Most of the 112 followers of this board never post here. Most of the "trader-sentiment-measuring" info I get from this group comes from private emails and not from the public posts.
.
That includes many emails from the "penny-stock-players" who have been shorting BION... and driving down trader sentiment with meritless accusations and false rumors.
.
The recent (and continuing) plunge in the broader stock market didn't affect BION.
.
The penny-stock-players are now satisfied with massive profits from BION's price decline.
.
They see this as the bottom.
.
They're now looking for an opportunity to go long and will be launching an (equally unethical) "pump-and-dump" campaign... carefully constructed to avoid breaking the law.
.
CAVEAT: If the broader stock market continues lower, we could see another price dip in BION as many folks dump ALL their shares. Many of my subscribers have placed "limit-buy-orders" for BION in the $0.015 to $0.01 range to take advantage of any such price drop... if it happens.
.
Anyone considering getting back into BION (or averaging down their present cost-per-share) should consider these new circumstances.
.
BION, like ALL other companies, could indeed fail.
.
But, I have more confidence in BION's business model and its management team than I had in Tesla when I bought 1,000 shares of TSLA at $35.
.
Don't forget my two rules for stock trading:
Rule #1 - Never trade with dollars you can't afford to lose.
Rule #2 - Never forget Rule #1.
Go BION !!!
This is only opinion, but the folks at BION appear to be focused upon fixing problems and moving forward with results.
Other start up companies in which I'm invested routinely crank out press releases to keep shareholders happy.
That makes me suspicious.
BION management is not following the "keep-them-happy" PR model.
I like that.
So far, none of the managers are bailing out and moving on to other job opportunities.
Both Saipem and Stifel are holding firm and pursuing objectives.
There is a new PR firm to validate the investment opportunity.
For me, the temporary problems and lack of news create a buying opportunity.
I am continuing to accumulate shares at these low prices.
This post best explains my strategy... http://tinyurl.com/om7p3yf
You're absolutely right, that's another example of a worthless opinion :)
Thanks, everyone for the emails.
To be considerate - before jumping to conclusions - let's give LonRun8 an opportunity to recognize and correct the two incorrect conclusions in her last post.
Recalling the market turmoil of last week, it's likely that she saw significant declines in her portfolio last week and her post was nothing more than vented frustration.
And - for those wanting an example of a worthless opinion - I'll use one of my own.
I have stated many times (here and other places) that I believe BION has a rock-solid management team that will solve the present problems, get financing, and soon announce a groundbreaking ceremony.
Time and events will prove me right or wrong.
Presently, however, it's a worthless opinion that should be ignored by anyone making a buy/sell decision on BION shares.
EVERYONE should do their own due diligence and arrive at their own conclusions about BION's management team.
Thanks again, everybody.
GO BION !!!
Hi LongRun8, I don't recall suggesting that opinions are unwelcome here.
I'm not a moderator. Nor do I make any rules here.
I do recall, that in my last post, I pointed out that opinions can be interesting and useful.
I did say that opinions are useless when making buy/sell decisions.
If that conclusion is incorrect, I will sincerely listen to your conclusion as to why I'm wrong about that.
If you consider my conclusion to be mere opinion... why is my opinion unwelcome?
I didn't have anyone in particular in mind.
I was drawing a distinction between opinions and conclusions.
Conclusions can be determined to be correct or incorrect.
Opinions can be interesting and useful, but are worthless when making buy/sell decisions.
My opinions are just as worthless as anyone else's.
Hi, The Blues, welcome :)
I see that you're new to ihub and never posted before.
You might want to scroll back through the previous posts here and do some homework on the company's history.
Sometimes it's in the best interest of shareholders for management to quietly proceed with their work.
The latest press release, however, demonstrates that management is progressing and has hired a new firm to manage investor relations... including future press releases.
When you're familiar with the facts, you'll be able to see through the worthless opinions that pop up from time to time.
Again, welcome :)
After today's close... on the Dow Jones Index...
28 of the 30 member stocks were down...
Only Apple & Disney were up.
Since Wednesday's close at 17,348... the Dow has fallen 1,682 points... more than 9%...
BION has held it's ground throughout this.
It appears that everyone who wanted out of BION... is gone!
The next piece of good news...
should light the fuse...
on this rocket we call BION.
Throughout Thursday and Friday, almost All of the 100+ companies I track were DEEP in the red.
BION was one of only 3 that held their ground.
Here's what I posted this morning... http://tinyurl.com/pxxrkav
I am honored that Ronald Fussman refers to me as a friend.
I've done my homework.
Ronald Fussman is a man who deserves our respect.
In spite of a mistake (which occurred decades ago) Ronald Fussman has distinguished himself as a successful businessman.
If the company AGREED to pay you $300,000... you have a valid claim and I apologize if my previous post characterized your claim as a nuisance lawsuit.
Please keep in mind, however, that we are unsure if "roni911" is really Ronald Fussman.
Mr. Fussman has a flock of lawyers to speak for him and pursue his interests.
So... why would Ronald Fussman be posting his legal strategy on this humble message board?
Perhaps a former (now disgruntled) employee is impersonating Ronald Fussman!
As I have posted before... if it's really you... thank you for helping us.
But, again, how do we verify that "roni911" is, in fact, Ronald Fussman?
Let's keep proper perspective.
In spite of BION's cash crisis and legal confrontations, it remains to be a lucrative enterprise... worthy of investment.
Being short on cash and defending against lawsuits is common stuff that all new companies face.
The "losers" (among the new companies in which I have invested and lost money) ALL have two things in common:
1. No one is fighting for control of the company.
2. There are no lawsuits seeking to cash-in on future profits.
Ironically, it's a good sign to me that there are those seeking to displace management and take control.
It's a good sign to me that there are those who are willing to invest in a lawsuit... expecting the company to have money to pay any judgment they MIGHT win in court.
The greatest threat to BION's profitability is NOT the temporary cash crunch or nuisance lawsuits.
Rising interest rates pose a more significant threat.
Presently, BION has a golden window of opportunity to sell their bonds during an historic low in the cost of borrowing capital.
This post illustrates the greatest threat: http://tinyurl.com/ntqhekg
I too have a question for Mr Fussman.
In light of the fact that all outstanding shares are privately owned...
by what authority could ANY federal or state judge (or jury) take our private property and give it to you?
That's the way I read it, Richard2112.
It appears to be a new designation for 100m existing & outstanding shares... not new shares.
It should only dilute voting rights... not value.
Hi, SNcarlos, welcome :)
It's too soon to KNOW what this means... and why this was done.
Speculation, at this point, is not conducive to rational conclusions.
I'm confident, however, that this enables present management to succeed.
Much goes on behind the public scene.
This lucrative enterprise is a tempting target for "takeover artists."
I suspect that the latest "move" protects the existing management from those who want to undermine BION's progress.
Welcome, puca :)
This is a good message board.
Don't worry about upsetting others.
As long as you post conclusions... instead of opinion...
you will fit in to this informative (and valuable) conversation.
Don't be offended by those who want to undermine BION's progress.
(They have their reasons and objectives.)
Again, welcome !!!
"SSR" is a wholly owned subsidiary of Pentant LLC.
These guys are heavyweights in the industrial production universe.
http://www.sector-sovereign.com/
Graham Copely bio...
http://www.pentant.com/who-we-are/bios/
BioNitrogen Holdings Corp. Engages New Strategic and Financial Consultants
36 minutes ago - DJNF
DORAL, Fla., Aug. 17, 2015 /PRNewswire/ -- BioNitrogen is pleased to announce that it has engaged the services of strategic and financial consultants Pentant LLC to assist the company with a variety of immediate business and strategic initiatives. Pentant is an advisory firm based in Connecticut with a specialization in the Chemical and allied industries.
As part of this engagement Pentant will be assuming responsibility for all of BioNitrogen's Investor and Public Relations matters, effective immediately.
"I'm thrilled to advise our shareholders of our new relationship with Pentant. We've been working with Graham and his team to put together a structure and process that will help propel BioNitrogen forward based on a rock solid foundation," said Carlos Contreras, Chairman and CEO of BioNitrogen Holdings Corp.
"We are pleased to have been awarded this engagement and opportunity with BioNitrogen" said Graham Copley, Pentant's Managing Partner; "we believe that the company has a great concept, a great process and a great future, and we expect to be of significant help as the company manages the next phase of its growth through design completion, project approval and capital raising."
About BioNitrogen Holdings Corp.
BioNitrogen Holdings Corp. (OTC PINK: BION) is a cleantech company that utilizes patented technology to build environmentally friendly plants that convert biomass into urea fertilizer. Our mission is to provide safe, cost effective, green solutions that are economically beneficial in locations where biomass is produced and urea is consumed. Additional information can be found at www.BioNitrogen.com.
Safe Harbor Statement
Statements made in this press release that express the Company's or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company's forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company's future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bionitrogen-holdings-corp-engages-new-strategic-and-financial-consultants-300129385.html
SOURCE BioNitrogen Holdings Corp.
/Web site: http://www.BioNitrogen.com
(END) Dow Jones Newswires
August 17, 2015 14:29 ET (18:29 GMT)
New post on BION.
http://tinyurl.com/pxxrkav
Does anyone know the current amount of short-positions in BION?
My broker's trading platform doesn't have it.
Good analysis Jeremy15, Longgg, peafunke, codaras, thanks.
Dang, I like this message board :)
Everyone seems to be voicing conclusions... as opposed to worthless opinions.
I might be wrong and might lose the money I've invested (and continue to invest) in BION.
But, you folks are making this both interesting and fun.
Here's why I think BION will succeed. http://tinyurl.com/p9fgo9v
Here's why I'm buying more BION. http://tinyurl.com/om7p3yf
After 30 years of stock trading, I have arrived at only two rules:
Rule #1: Never trade with dollars you can't afford to lose.
Rule #2: Never forget Rule #1.
In the near future, some of us will be laughing; some of us will be crying.
Good luck everybody :)
Welcome to the conversation, CldHvebnu :)
Just guessing, but I suspect that each bill or claim is now suspect.
Chances are, the new former-FBI-Agent-board-member is evaluating each one.
Management has a fiduciary responsibility to us stock holders.
They have to justify each expenditure as valid.
We don't have a list of bills due.
Most are probably valid, but each one is now suspect.
Again, I'm just guessing... based on what I've seen before.
True, king rook, NG prices have collapsed from previous highs.
But, NG COULD collapse further... at least temporarily.
One has to consider that possibility.
Don't miss my point.
NG price is volatile. Biomass is (presently) less volatile.
I guess I should have qualified "temporary" as 3 to 5 years.
Any discussion of the affect of commodity prices on manufacturing operations typically considers a 20 to 30 year window.
The long term feed-stock supply agreement, for example, is probably (haven't seen it) more of an agreement to manage the supply chain.
Neither BION or the supplier would be wise to lock-in prices.
There's just too many variables.
That's why technical analysis is unreliable on start up companies.
They have no track record to measure costs or revenues.
Generally, NG SHOULD be more volatile than biomass long term (20-30 years.)
Actual short term (3-5 years) price cycles are even less predictable.
Again, there's just too many variables.
That's more good info Gatorlady, thanks :)