Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thanks golonguy. This is something, not because they have made ethanol, once they have sugar I don't think that's much of a challenge, but because it may indicate that more is coming. They are talking about offtake agreements, which should mean no dilution. Hopefully, they come through soon.
I agree, lifttruck, it should be soon. At least I hope it is soon.
ELGL formed a partnership with a comic book company. I don't think the news is that important but it feels good after such a long silence.
https://www.globenewswire.com/news-release/2024/03/06/2841520/0/en/Scout-Comics-Entertainment-Inc-Announces-Partnership-with-Element-Media-Global-a-Wholly-Owned-Subsidiary-of-Element-Global-Inc.html
Another announcement on ELGL. They formed a partnership with a comic book company.
https://www.globenewswire.com/news-release/2024/03/06/2841520/0/en/Scout-Comics-Entertainment-Inc-Announces-Partnership-with-Element-Media-Global-a-Wholly-Owned-Subsidiary-of-Element-Global-Inc.html
I missed it at the time but just read it on your advice. I'm not sure what to make of it with regard to BFNH. It is clearly the same industry and Kaiser is a well informed and well respected as far as I can tell, CFO IR type. BRVO just acquired something called TVee NOW which will, it seems, be their streaming platform. Since Kaiser is in both companies, it certainly could be there is some plan for the companies to work together. Nice find lifttruck.
Somebody just bought a thousand shares of bfnh. Was it something I said? lol.
About two years ago BFNH and ELGL signed a MOU for BFNH to acquire the assets of ELGL for stock. No details on the amount of stock were provided. There have been no details since, but the companies now have the same management and BOD. So it seems the deal is still on. The announcement that there would be no reverse split was the first publicly announced verification that the deal is still on. It also possible indicates that the deal is close to closing, but what close means is up for debate.
Also, this announcement referred to the deal as a merger, the first time as I recall that it's been called a merger instead of an acquisition of assets. This is a technical distinction that may make no difference as to it's effect on us, but it is something to be noted.
As to the distinction: see https://www.genesislawfirm.com/asset-acquisition-stock-purchase-and-merger-structures#:~:text=Asset%20Acquisition%3A%20the%20buyer%20buys,combines%EF%BF%BD%20with%20the%20business.
News out from ELGL. No reverse split necessary for the merger. The fact that they used the word merger is significant and that they are out with news. Maybe something is coming.
https://finance.yahoo.com/news/element-global-inc-provides-shareholders-173300114.html
Thanks, liftruck. This may mean they are close to closing the deal. I hope so.
The other way to look at this is that they are a relatively small grant or off-take away from commercializing. Also, the partnership with Vertimass is for a plant to convert ethanol to aviation fuel, a process already proven by Vertimass. So there is no reason to believe building a plant that will take purchased ethanol and convert it into aviation fuel should take a year or more. I suspect funding is what is holding the company and the stock back.
As of March, they were raising money with a series C, so I doubt they are flush. They did receive $3.4 million from the DOE in 2019, so there is that.
https://www.prnewswire.com/news-releases/vertimass-launches-series-c-fundraising-to-bring-technology-to-commercialization-stage-301767685.html
I just checked the MOU Blue signed with World Energy Sustainable Products (WESP) in May. MOU's are not binding on anyone, so take what I say with a grain of salt. The MOU is for an off-take agreement under which WESP would buy Blue's aviation fuel, paying in advance. Since that time World has signed agreements to supply SAF Certificates with DHL and MSFT. I don't know the details but it looks like World is a read thing. So maybe the offtake would be part of paying for the building of the plant.
Find WESP's website here: https://www.worldenergy.net/
File info on SAF Certificates here: https://www.ibm.com/blog/saf-sustainable-aviation-fuel-certificates/
Good news, but we still have to see about financing. Maybe government secured loans?
there were 314k shares traded at an average price of about .0825. that comes to about 25,000 dollars. Not huge. It was also the last day of tax loss selling, so there may have been some of that. There a lot of bargain hunters on the buy today if you watched throughout the day.
The situation hasn't changed, if they get a deal we all make more money, if not we all lose.
And to you as well. and hopefully a profitable new year.
The bid ask spread was .10 to .1119 for most of the day. So someone sold 700 shares at the bid. It closed between the two at .10675 on 500 shares.
BTW, on these hardly traded stocks the bid ask spread is frequently very large.
Right, maybe with interest rates topping and possible coming down, capital will become available for the mircos. Let's hope.
No news that I know of. I think if there were news the volume would be higher. Could be that some people have been convinced that the high volume selloff that happened on November 8th or so is over. Or, the November seller booked his loss and thirty days have elapsed so he or she is buying back. Anyway, we just have to wait I guess.
Steven Gagnon is still listed as co-ceo and signed the latest K filed in November, so that's good. He is also co-CEO of ELGL and listed as the founder and CEO of Element International which is a sub of ELGL. So he's still there. The WSJ also lists LaViolette and Sasha Shapiro as still there, but that's from two years ago. They're all still officers and directors of ELGL also, so it seems still alive. But when anything will happen is anyone's guess
chatgpt??
why January 30?
Found it, sorry.
Where did you see convertible notes, valeria, I couldn't find it. tia
and, BTW, we've got a million on the bid at 8.3.
No news that I know of. If you look at what happened yesterday and today it looks strange. Yesterday someone dumped a couple of hundred thousand shares in the first ten minutes. Today, a million. After that buying took over. This is strange behavior. It is unlikely that this is several holders who decided to sell at once, so it was probably a single seller. It could be someone just tossed in the towel of course, but it also could be something planned.
If it was a single holder tossing in the towel, he or she almost certainly knows no more than we do. He or she might have been forced to do it for financial reasons, but otherwise it is strange behavior, a million and a half shares at eight cents is 96k, even less at six cents. Voluntarily taking that kind of loss doesn't see reasonable under the circumstances.
If it was intentional, what are the possible reasons? One, they do know something want to accumulate shares. Could this be a modern form of running the stops? It could certainly induce panic as it has. But why panic? We all knew this was a speculative play when we got in. Nothing has changed, but the human brain is, as one author said, predictably irrational. We do get emotional when confronted with loss.
There was just a buy for 500k shares. Since the first ten minutes about 1.5 million shares have been bought. Maybe it's working.
JMO.
Excellent point, crazyflavor.
it's not a matter of trust, it's just risk reward.
Why do you hate them? If they told you something would it satisfy you? I suspect it wouldn't.
I put in a low ball bid. Not filled yet.
I think it's possible, but we don't know anything yet.
About 700k sold, followed by about 700k bought.
A non-event.
this could as easily be interpreted as somebody who knows something, (not an insider) running the stops. Nobody uses stops any more, but the effect would be the same, scaring some shareholders.
The question to ask is what is the risk reward now? It's better than it was a few days ago.
I assume you mean :"in touch." And no, I haven't
Not Joe, for the umpteenth time. You're suffering from confirmation bias. There are any number of reasons to that may have caused the price drop. It is a relatively low volume event and could be someone selling for his or her own reasons. You believe there is some hidden agenda by someone or other so you make up the story. You always do that. Actually, it's within the normal range of variation for a stock. Relax.
Did they file a form D? I didn't see one. If they are doing another raise they have to file a form D..
NSS, when was the last time you checked the website? I haven't every looked at it so I just wondered if the under repair message was definitely new.
And at a little past two, a flurry of trades. Also weird.
Correction took him out.
Looks like someone(s) is/are taking him out..
Thanks for this. Yes, we may be the solution. Plus, the CEO of Shell sounds just like Ben. Both Dutch. Maybe that means something. 🙂
The whole interview is worth a listen too. https://www.google.com/search?q=Jon+Stewart+interview+with+CEO+of+shell&ie=ut#fpstate=ive&vld=cid:7a4b26b5,vid:E_-9Uk3xnkU
Looks like a new video from Blue. Pretty good. Nothing new for us, but a good ad.
The Q is out. I found this interesting. In the management's discussion:
"The Company will prioritize building an SAF facility to generate revenue sooner. First, the Company intends to build a commercial scale ethanol to SAF facility and subsequently build commercial CTS and ethanol facilities on the front-end of that to produce cellulosic SAF and generate the large D7 RIN and other government credits."
That's the first I heard of that plan.
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001549145/000149315223026996/form10-q.htm#a_003