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Yes 10+ bagger with believable CEO. I will load the boat before I miss the LIMO. LMAO hypocrite!!!
Congrats on the impressive run everyone.
CERP was fun.
If ATYG runs then I will congratulate you all, but I thought you were done with 15 billion A/S. I still don't believe a reverse split is off or anything else from the CEO. Pay for that, really!?! LMAO!!!!
Averaging up on CERP. Break new highs!!!
ATYG is illiquid play something with a bigger pool. LMAO!!!
Cereplast, Inc. (OTCQB:CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today is providing a shareholder update and an outlook for 2013. Cereplast has created additional liquidity through the generation of approximately $500,000 in revenue over the last six weeks while continuing to focus on restructuring its operations to further position the Company for growth throughout 2013.
Revenue Generation in Europe, the United States and Asia
In Europe, specifically in Italy, the Italian parliament made a critical vote on December 13, 2012, which confirms the proposed sanctions on companies using traditional plastic bags and mandates a switch to bioplastic or other alternatives 60 days from the publication of the Application Decree. In anticipation of the final Application Decree to be signed, Cereplast has received several orders for blown film resin, which were fulfilled utilizing its existing inventory. All customer payments were received in advance of shipment or within conservative credit terms. The Company expects continued growth in demand for blown film as a result of the anticipated legislation in Italy.
In the United States, Cereplast received several orders for compostable resins that will be used for food service applications. Multiple large food chains have started to embrace the use of compostable material for food service ware items including straws, cups and cutlery, for which Cereplast's resins are in demand. Cereplast has fulfilled these orders and all payments have been received.
Cereplast received several purchase orders from existing clients in India. Management is encouraged by the progress made in India and anticipates their investments in this new market will translate into additional purchase orders and future revenue growth in 2013.
Debt and Indenture
Management announced that our debt holders have waived the event of default, and have agreed to forbear from exercising their rights and remedies under the Indenture with respect to the Company's failure to make interest payments due on June 1, 2012 and December 1, 2012. The Company was successful in arranging a structured investment from an institutional investor, offering a repayment plan to settle both the past due interest balance as well as the coupon due in June 2013. The restructuring provides the Company relief until December 2013.
With respect to the Compass Horizon term loan, an arrangement was completed by which an institutional investor will repay the remaining principal and interest owed under the Term Loan.
Working Capital and Liquidity
To provide the Company with the required working capital to continue operations, approximately $1 million in short term convertible debt and equity financing was completed. In order to maximize these new investments, the Company has enacted an operational restructuring strategy which includes a reduction in operating costs. Additionally, the Company has taken aggressive cost cutting measures, which include a furlough for production employees and a reduction in its worldwide headcount to 17 employees.
In order to improve cash flow, the Company adjusted their sales and shipment policy, requiring payment in advance of shipment and reducing terms to less than 30 days for large domestic companies.
Inventory Recovery from Delinquent Accounts Receivable
Cereplast initiated a systematic strategy to recover their customers' unsold inventories associated with their delinquent Accounts Receivable balances. In September 2012, 22 containers of the Company's Compostable resins were successfully recovered, valued at approximately $2 million. The same strategy will be used to recover available remaining assets across Europe, Italy, Germany and Malta.
Intellectual Property
Management believes that there is tremendous unlocked value within the intellectual property portfolio of the Company. As the industry continues to evolve, management believes that large conglomerates will begin to make further investments. It is therefore critical to continue to protect the Company's intellectual property while continuing key Research and Development projects. In 2012, Cereplast was granted two patents and is prepared to file an additional five patents in the next few weeks covering both families of resins: Cereplast Compostables® resins and Cereplast Sustainables® resins, including Cereplast Algae Bioplastics™.
Averaging up on CERP. 420 WHEEEEeeeeeee!!!!!!!
You mean ATYG no bidder. LMAO!!!
MKRS value special right now. LMAO!!!
CERP run pass a dime after you hit that nickel you know you can.
VUME is so last week why even bother.
ATYG A/S is 15 billion with a B not M. LMAO!!!
ATYG had benefit of the idiot, not anymotor. LMAO!!!
dought
Hold CERP and buy more CERP the higher we all go!
CERP it up! Congrats everyone except the shorts today.
Oh JEEBS MKRS value. LMAO!!!
Do you have TDA APEX for TFZI? TFZI makes a reverse split it is a corporate action and reorganization so you are normally charged a fee.
So much for TDEY. :O
Whose buying this ZPPB buyout nonesense?
Nice run, but I think that VKML ran yesterday.
VUME It's like you are talking with your alter ego. LMAO!!!
So people found out the mine is inactive today? LMAOTIME!!!!
The Ihubbers said that... lmao!!!
Will threes hold? LMAO!!!!
Look like fours.Is that going to hold?
LMAO CCTR just like the Bank of Southpark. Poof it's gone.
Congratulations all SPOW shareholders on the latest reverse split. Now the pps will be 50 times higher.
They might make a penny after VUME expenses. LMAO!!!
Broken six. Gold mine, WHEeeeeeeeee!!!!!!!!!!!!
Think you guys can sell VKML at the ask more? It will go up even higher.