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As I have said earlier, Arnie Klann has given up on BFRE. Nothing was working out, the US DOE reneged on providing the remaining funding needed to build the Fulton, MS plant, that could have led to additional plants in China, and no other energy company was willing to buy or merge with BFRE.
It wasn't about its technology, it was about ability to fund its first full-size plant. It is just a matter of time now before its stock will be dropped altogether.
Now, with US trade with China going thru great trials, it seems likely that they may refrain from building ethanol plants there anyway, even if Fulton was completed and became successful.
Stock Prophet, I think it is just a matter of time now, before they halt trading BFRE. Arnie Klann's Son, Richard, called all business partners and Facebook friends nearly two years ago now, saying they will not be able to continue now that the DOE has reneged on their remaining original offer of financial aid, plus the S. Korean deal with their SucreSource subsidiary was never constructed to produce "sugar" for GS Caltex to make their own ethanol and/or other products available from that raw material. He said all Engineering and Business Employees had also resigned, and that Richard himself had just gotten another job.
I personally sold off my remaining investment in BFRE about 4-5 years ago, after taking a huge loss, and losing my confidence that it could succeed. I do feel it is a good technology, but their problem was financing ability to build the very expensive plants.
I noticed someone just bought a million shares at a slightly higher price, so there must be a few investors still interested in this company. I was hoping Arnie could merge with or get bought out by a big energy company, but he never got anywhere with that approach either.
So, as I said above, it is just a matter of time before this stock is discontinued, and the negative people here will almost surely wind up being right.
Spec, I am wondering too. I actually sent Arnie Klann a personal email about this, but never got any answer. It does appear to me that nothing was ever followed up by GS Caltex on this, since nothing is ever mentioned on their website about any plant being built by BFRE's LLC business:(SucreSource LLC).
Monroe1, if I was still a Mod in this room I would have erased this last entry of yours. This is no place for such talk.
BTW, I have Plan F for Medigap Ins: Virtually no copays, even for surgical procedures.
It's not over until THEY say its over!
Since the original Pilot-Plant trials of the BFRE unique process were run in Japan, I have wondered why they didn't work out a further deal with BFRE soon after that, since its economics for ethanol production seemed so good?
The BFRE management have never talked about any Japanese follow-up, as far as I can recall. Then, I thought they had a deal with China, which fell through after the US DOE denied further payments on their commitment to complete a grant to BFRE after they made a good deal with China.
Also, I cannot find out what happened with the deal with Korea to build a plant and produce Sucrose for them to make ethanol and/or other final cellulosic products. Has anyone here have any info on this?
magicman, crude is up 4% so far today, with better news from China regarding coming trade deals, and it is very possible DDCC's business with oil frackers will come back soon!
BFRE up 50% today at 0.0003
You guessed it, GR: Several business deals previously made by DDCC are almost ready to explode any day now! Keep watching! [:^)
Spec, if they get de-listed it likely won't be possible to sell shares on any exchange again, until/unless they get re-listed.
Honestly, I am not aware of any current action going on towards selling or uniting with a larger energy company! I can't even find out if the GS Caltex agreement to build a sucrose plant using BFRE's technology was ever constructed. Has anyone heard any recent news on this?
Oil drilling opportunities are increasing again, with light crude above $60/bbl, and more fracking units being moved back to the US. I am expecting positive news now any day from DDCC.
Let's not forget the possibilities of business with India too, now that relationships with them have been established!
I know the China deal is done,and the Fulton, MS plant, since the final part of financing was never approved by the DOE. I do believe they are seeking another company to either buy out the BFRE patents, or else make some kind of merger deal, where the other company would agree to provide all the financing, or maybe some similar type of agreement? We just need to wait and hope for the best.
I agree, taylor3, although recent attacks on petroleum ships have not had as much of an impact on crude prices as it could have. Oil drillers are reported to be returning many rigs back to America, and oil fracking here has been on a rise, reportedly making the US now the largest oil producer in the world. Before too much longer the need for DDCC's products should result in more orders flowing.
This is certainly good news for BFRE, if they are able to go ahead with plans to build the Fulton, MS cellulosic ethanol plant? Has anyone heard of any plans for BFRE to merge with, or sell to another energy company that would be able to fund the expected $300M cost to build and manage the new plant?
I am still hoping the Trump Admin. will help with financing, assuming the Chinese are still willing to fund 90%, or $270M of that plant.
Actually, I fully expect Trump to be re-elected in 2020, which will be good news for our economy and energy markets. My concern now is where BFRE will be able to either get full financing for their future Fulton, MS. plant, or else get bought out by a large energy company that could fund the plant them selves?
Plus, the WTI oil price is nearing $65 now, which should increase the need for oil drilling materials that DDCC has sold in the past!
Yes, but AOC would also ban all vehicles from our roads, leaving little reason to even make gasoline additives like ethanol? [:^(
Monroe1, we don't know much on this end, for sure! I even emailed Pres. Arnie Klann regarding the status of the deal with GS Caltex in S. Korea, but got no reply? It appears that deal was never completed.
I know most, if not all, other employees resigned over a year ago, and they need to soon either merge with or sell out to another energy company who may be interested in the unique BFRE process.
If they continue to delay issuing required financial statements, their stock may be de-listed for public buying and selling?
The slow but steadily rising oil prices should also soon increase petroleum production, and raise the need for more drilling materials!
Monroe1, to answer your last post, BFRE never did own that future plant site in Fulton, MS, as the would only lease it for some length of time. As I understand it now, whatever temporary rights they had to prepare the site has now expired, and to build a plant there now would likely require a whole new agreement with the local Gov.
As you know, BFRE never got the additional grant in order to begin actual plant construction, also most employees, which included a couple experts in plant design and operation have left the company over a year ago now.
I believe the only hope now for Arnie Klann at BFRE is to either merge or sell his company or patent rights, etc., to a larger company in the energy business. There has been no word as to whether anything is actually happening in this either.
The deal with GS Caltex in S. Korea was only to use the BFRE technology for making sucrose, with which Caltex would use for making additional products, which could include ethanol, and a few chemically-related other products. That would have only generated some patent-rights and related income for BFRE, as I understood it. There has been no word as to whether the first sucrose plant using BFRE Technology has been constructed. SucreSource, LLC is the name BFRE set up for producing only the sucrose(sugar) from which the other company would make its final product(s).
Jer, The BFRE process works in a sequence: First, the concentrated acid hydrolysis process turns the waste material into Sucrose, which is a form of sugar. After that is collected, they have the choice of using that as raw material for one of several possible final products, the one BFRE has selected being ethanol.
In the case of their deal with Caltex GS in S.Korea, they only wanted the sucrose to be made by the BFRE process, and then Caltex will use their own production equipment and processes to make their own final product(s). BFRE started an LLC subsidiary company to make just the sucrose, which they call SucreSource, LLC.
Unfortunately, I have been unable to find out where Caltex stands on that deal with BFRE, as BFRE has not released any recent info since the deal was made several years ago.
The Fukton, MS project, as far as I know is dead now, since they have been unable to raise the additional $30M to complete its funding( Chinese EXIM Bank had agreed to lend $270M, but they needed $300M to complete, hire people, and startup the plant. The US DOE had originally made a grant to BFRE for starting this plant, and there was at least another $30M available on that grant, but before BFRE was given the last portion of it, the DOE reneged on the remaining grant money originally offered to BFRE.
I am still waiting for answers too, but for now, it does not look good for BFRE's future. I am highly disappointed, as I truly think their unique process would operate faster and more economically than other cellulosic ethanol producers who use enzymes instead of acid, and who are really struggling with the economics of their operating plants.
I am still waiting to hear what is happening at GS Caltex, South Korea, who had a deal with BFRE's SucreSource LLC subsidiary, to produce sugar(sucrose) from cellulosic raw materials, and then make various products including ethanol using the GS Caltex technology. I have heard nothing, either from BFRE or from GS Caltex, on whether or not this plant was ever constructed in Korea? Has anyone here heard any more about this?
I agree! These are men of integrity, who are doing all they can now to both get the business going again, and restore the stock trading.
There seems to be a renewed interest in clean energy again! Maybe the Gov. will change their minds about that $30M they reneged on a few years ago and, if they do, will the Chinese still be interested, and will the Fulton, MS plant site still be available??
Stephimac, thanks for posting Allen's latest Facebook message. We are grateful they are still doing what they can to restore the business and stock listing. Actually, we have no choice but to wait, since we couldn't sell our shares anyway?
So, let's all be patient and wait until the economy strengthens further and DDCC's business starts picking up again.
Hope all had a merry Christmas, and wishing all a very happy and increasingly prosperous New Year! [:>)
I don't understand a lot of their actions either, and why Allen Lopez hasn't posted lately on Facebook, but do know they have a serious intent to get things back as soon as they can, and feel we should continue with patience waiting until good news is reported.
Monroe1, it seems that most of us are now waiting in the shadows, waiting for something good to happen.
Has anyone heard of how the Korean deal using BFRE's SucreSource for sugar production is doing? It should by now have proven out the Arkenol strong acid hydrolysis process using cellulosic raw materials, including many waste products, etc.
I agree there are some issues we all wonder about, but Management has clearly stated they are doing what they can, and will report any further news when it becomes available.
I am not one. There are 5 billion shares authorized.
Allen Lopez still has the DDCC Facebook page. He just hasn't posted anything since June 1, 2018.
With today's surging economy, some positive news should come now any day!
Has anyone here heard anything at all from management about future plans and expectations?
Yes, PennyMaster, they do need to report something to us about what is going on in any negotiations to either sell or merge with a larger energy company?
spec machine, of course, I was referring to BFRE's ARKENOL process for making ethanol out of waste materials. You know, the plant that was 90% funded by a Chinese Bank for building a plant in Fulton, MS?
All BFRE needs is another 10% funding to build and run that plant, after which other plants will follow, as people recognize the benefits of their unique concentrated acid hydrolysis process, which has already been found very effective in a Pilot Plant in Japan.
He is the one who replied to my inquiry too, magicman. With our economy popping again, something should spring up pretty soon now!
Chechecole, I think we are all waiting for something to happen, that's for sure. All we can do for now is patiently wait for the next move in getting the BFRE great process moving!
I recently got a reply from Management saying they were still working diligently on restoring stock trading, and on business avenues that should be improving with our expanding economy under the Trump presidency.
With the speed at which the economy is now expanding, it shouldn't be long before companies that will benefit from the Translock2 containers, begin placing orders with DoubleCrown!
Well, don't shoot, if you see a huge buck carrying $30M on its antlers, and heading toward Arnie Klann! [:^)
( For any newcomers, BFRE needs $30 Million to complete a big deal with a Chinese Company to build a full-scale cellulosic ethanol plant)!
Maybe the new negotiations going on between Pres. Trump and China could bring a renewed interest, and more financing, for the building of a new ethanol plant for China's evaluation of BFRE's unique process for converting trash and other organic materials into ethanol?