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If they are coming out of BK the Web-sight will be the first place they up-date. This may be a very Good Sign. Time will tell.
The latest info is that they put a 45 day extension. Best I can tell you is to read Jricheys post. It is a few months old but it still the best and only information we have at the moment.
http://bankruptcompanynews.com/bionitrogen-bankruptcy-news-11-1-16/
So this is positive! Mr. Copley has possible investors lined up to take the patent and actually do something with it. Although they need 45 more days to present their exit from Chapter 11 to the court, this shows there is possibly green in the horizon for Bionitrogen.
Nothing we can do but sit and wait for more news like this to come to light. Maybe even a PR.
From
#14228 Jrichey Post
I just had a 45 minute conference call with Mr. Graham Copley about the current status and future plans of BioNitrogen. Here is sort of a summary of what the CEO told me, in Q&A form. (Note: the Q's and A's are not direct quotes, but merely a summary of what I can remember and what I typed down as we were talking.)
Q. Starting the conversation, can you speak about BioNitrogen and its current status?
A. BioNitrogen is recovering from some "stupid decisions and moves" that the former board made that left us is a very bad position with a lot of debt. Our current plan is gaining investors that can help us exit from Chapter 11, partner with some major gas companies that can help, and push as hard as possible to get our first plant built.
Q. Do you have any timeline or goal timeline that you are shooting for for all of this to happen?
A. Our timeline, given to us by the bankruptcy judge, is the beginning of September to come up with a plan and show that we can acquire funding to get us out of Chapter 11. We do not have to have the full debt repaid by that time, but even if we have $5 million, we can get out of chapter 11 and proceed forward. We are just, again, looking for that investor(s) to come in.
Q. What is your plan to to get new investors and possibly recapture some older investors that may have ran when you entered Chapter 11?
A. As far as getting new investors, we are at a tough time due to the fact that urea prices are at a 10 year low and that is a very tough selling point. As with most markets, the Urea price is cyclical and eventually bounces back, as history as shown, but investors are currently looking at the present data point instead of the future. Showing investors that we can make money even though the urea prices are down is critical, and I'm confident our technology will allow us to do that.
Q. So you have recently made news that you have secured your location for your first plant in Taylor Co. Florida, how would you say your relationship is with the county? Are you on better terms?
A. I would just say that we have made agreements. Taylor Co. wants the jobs and we want the biomass and market that is in and around Taylor Co.
Q. What does the future look like for current shareholders of common stock? Will our shares be wiped clean?
A. We are in the process of coming up with a warranty plan of some sort for "current shareholders" that will guarantee them some sort of return. We aren't exactly sure how that will work or look like, but we want to provide something for the investors who still hold shares in BioNitrogen.
Q. Some investors feel they are in the dark with the company, and even though it isn't required by BioNitrogen, have you thought about giving a press release of your current standing?
A. I currently feel as if investors know most of what is going on at the moment. They know we are trying to build a plant and they know we are looking for investors to help us emerge from Chapter 11. I am currently working on some key partnerships with people and companies that I may release to the press once they are finalized that will give us some leverage.
Q. Most of us know that your board of trustees that dwindled down a bit. What can you say about the current board and do they have the same motivation as you do about getting the first plant up and running.
A. Currently there is no board. We have had to make a lot of decisions regarding money and having a board wasn't financially beneficial. Even though there isn't a board doesn't mean I'm not working with people. I currently have two friends in the chemical business that are current CEOs and I'm working to get them onto the board. I'm also looking to get one of the original inventors back onto the board so we can have that expertise. Other than that, I know that some large investors will nominate and fill the board for us, so I'm in no rush of filling it myself.
Q. So the big question, assuming a successful emergence from Chapter 11, what is your five to ten year plan?
A. Well first thing is building our first plant and get it up and running, which takes up two years time. From there, proving our technology and worth. Then, we have a couple different paths we can take. One could be we get bought out by a large urea seller so they can own the technology and not have the competition, or by a small seller so they have an upper edge on the bigger guys. Another route is licensing out technology and plants pop up all over the world. Or, we can become a solely owned company that expands all over the U.S. and other major countries.
Q. Where do you plan to expand to after your initial plant is successful?
A. We would like to see ourselves move into the north east of the U.S. There isn't a huge market for urea in that area, but one plant of ours could absolutely be sustained there. East Pennsylvania would be our next option as the market in that area is pretty high and the biomass is a little cheaper. Then obviously we would put two or three plants in California. The biomass there is just sitting in storage because there is so much of it right now. California has come up with new legislation saying they want to clean up fallen trees in their forests to prevent the acceleration of fires if there comes another one, so biomass is very readily available and nearly free.
I hope this post helps and possibly answers a couple questions you may have, just like I had. Mr. Copley kept saying his only goal right now is to build the first plant and that he is 100% committed. Now that they don't have a board that gives false promises to investors, they hope to gain back the trust of investors in order to come out of Chapter 11 and get that first plant.
With all this, I'm still deciding what my next move will be. Invest more, possibly double down? Or just sit and wait? Let me know what you all think.
From
#14228 Jrichey Post
I just had a 45 minute conference call with Mr. Graham Copley about the current status and future plans of BioNitrogen. Here is sort of a summary of what the CEO told me, in Q&A form. (Note: the Q's and A's are not direct quotes, but merely a summary of what I can remember and what I typed down as we were talking.)
Q. Starting the conversation, can you speak about BioNitrogen and its current status?
A. BioNitrogen is recovering from some "stupid decisions and moves" that the former board made that left us is a very bad position with a lot of debt. Our current plan is gaining investors that can help us exit from Chapter 11, partner with some major gas companies that can help, and push as hard as possible to get our first plant built.
Q. Do you have any timeline or goal timeline that you are shooting for for all of this to happen?
A. Our timeline, given to us by the bankruptcy judge, is the beginning of September to come up with a plan and show that we can acquire funding to get us out of Chapter 11. We do not have to have the full debt repaid by that time, but even if we have $5 million, we can get out of chapter 11 and proceed forward. We are just, again, looking for that investor(s) to come in.
Q. What is your plan to to get new investors and possibly recapture some older investors that may have ran when you entered Chapter 11?
A. As far as getting new investors, we are at a tough time due to the fact that urea prices are at a 10 year low and that is a very tough selling point. As with most markets, the Urea price is cyclical and eventually bounces back, as history as shown, but investors are currently looking at the present data point instead of the future. Showing investors that we can make money even though the urea prices are down is critical, and I'm confident our technology will allow us to do that.
Q. So you have recently made news that you have secured your location for your first plant in Taylor Co. Florida, how would you say your relationship is with the county? Are you on better terms?
A. I would just say that we have made agreements. Taylor Co. wants the jobs and we want the biomass and market that is in and around Taylor Co.
Q. What does the future look like for current shareholders of common stock? Will our shares be wiped clean?
A. We are in the process of coming up with a warranty plan of some sort for "current shareholders" that will guarantee them some sort of return. We aren't exactly sure how that will work or look like, but we want to provide something for the investors who still hold shares in BioNitrogen.
Q. Some investors feel they are in the dark with the company, and even though it isn't required by BioNitrogen, have you thought about giving a press release of your current standing?
A. I currently feel as if investors know most of what is going on at the moment. They know we are trying to build a plant and they know we are looking for investors to help us emerge from Chapter 11. I am currently working on some key partnerships with people and companies that I may release to the press once they are finalized that will give us some leverage.
Q. Most of us know that your board of trustees that dwindled down a bit. What can you say about the current board and do they have the same motivation as you do about getting the first plant up and running.
A. Currently there is no board. We have had to make a lot of decisions regarding money and having a board wasn't financially beneficial. Even though there isn't a board doesn't mean I'm not working with people. I currently have two friends in the chemical business that are current CEOs and I'm working to get them onto the board. I'm also looking to get one of the original inventors back onto the board so we can have that expertise. Other than that, I know that some large investors will nominate and fill the board for us, so I'm in no rush of filling it myself.
Q. So the big question, assuming a successful emergence from Chapter 11, what is your five to ten year plan?
A. Well first thing is building our first plant and get it up and running, which takes up two years time. From there, proving our technology and worth. Then, we have a couple different paths we can take. One could be we get bought out by a large urea seller so they can own the technology and not have the competition, or by a small seller so they have an upper edge on the bigger guys. Another route is licensing out technology and plants pop up all over the world. Or, we can become a solely owned company that expands all over the U.S. and other major countries.
Q. Where do you plan to expand to after your initial plant is successful?
A. We would like to see ourselves move into the north east of the U.S. There isn't a huge market for urea in that area, but one plant of ours could absolutely be sustained there. East Pennsylvania would be our next option as the market in that area is pretty high and the biomass is a little cheaper. Then obviously we would put two or three plants in California. The biomass there is just sitting in storage because there is so much of it right now. California has come up with new legislation saying they want to clean up fallen trees in their forests to prevent the acceleration of fires if there comes another one, so biomass is very readily available and nearly free.
I hope this post helps and possibly answers a couple questions you may have, just like I had. Mr. Copley kept saying his only goal right now is to build the first plant and that he is 100% committed. Now that they don't have a board that gives false promises to investors, they hope to gain back the trust of investors in order to come out of Chapter 11 and get that first plant.
With all this, I'm still deciding what my next move will be. Invest more, possibly double down? Or just sit and wait? Let me know what you all think.
Thanks peafunke, that is what I was looking for.
I never said it wasn't true but its not the same type of plant in the least. Bion will be producing urea will this plant will be producing and I Quote "The plant will convert biomass-- such as lumber-- into renewable energy." I see nothing that really affects BION. Thanks for bringing it to our attention though.
Hi Gatorlady, I believe that they are contracted already with a bio-mass supplier for the next 25 years.Bio-mass will not be an issue in my opinion.
BioNitrogen Corporation Announces Supply Agreement With United Suppliers Inc. Ticker Symbol: U:BION MIAMI, FL — (Marketwire) — 08/21/12 BioNitrogen Corporation (PINKSHEETS: BION), a cleantech company that utilizes proprietary technology to build environmentally-friendly plants that convert biomass into urea fertilizer, announced today that it has signed a supply agreement with United Suppliers, Inc. for the production of urea fertilizer for its future plant in Florida. United Suppliers is owned by 735 locally-controlled Ag Retailers and provides crop nutrients such as urea fertilizer to its owners in 20 states from east of the Rockies to west of the Mississippi River plus three of the western provinces in Canada. This will be the first plant supply agreement under the framework agreement recently announced with United Suppliers. The supply agreement contract will provide United Suppliers with the plant production of approximately 124,200 short tons per year for twenty-five (25) years. The contract also includes a take-or-pay minimum equal to 100,000 short tons per year for the initial five (5) years. - See more at: http://www.bionitrogen.com/plant_construction_updates/bionitrogen-corporation-announces-supply-agreement-with-united-suppliers-inc/#sthash.O8m2yxIB.dpuf
Hi Gatorlady, I have looked and haven't found any news about another plant being built anywhere in that same area. Until we see any real evidence I wouldn't be concerned about it. Besides BION owns specific technology patents that will give them an advantage anyway. Also this is not about a single plant but many over the course of many years both here and hopefully overseas.
A good articular explaining why Stock options motivate executives.
http://www.entrepreneurial-insights.com/how-much-equity-give-new-co-founders-employees/
Hi AirCorps, I looked on the financials and it said Executive compensation and salaries payable 108,660 year to date so 500k seems a bit High. I feel that they are more likely getting Stock options to save the company cash.
Just one more opinion but I don't expect any PR until after the EPC is complete. I believe I read some where that they are not allowed to give any updates about it while it's being completed. Also I'm sure BION lawyers have told them not to speak of anything related to the annon case until that is settled. How much longer is anyone's guess but when the news does start I believe the SP while increase substantially. Invest what you can but not more then your willing to loss and in the long run this will I believe turn into a great investment in the long run. Go BION!
A company as large as Saipem is going to have legal issues from time to time arise. They have many divisions "With operations around the world in over 100 countries in Americas, Europe, Middle East, Africa, and Asia and can provide services and management services worldwide." one case is not going to affect them nor will it be an issue for BION. Asking a good Questions is never bad.
I was about to say the same thing but you beat me to it.
Thanks for the positive words Tfletcher. I'm amazed at the attacks on BION but in the end I think these temporary delays and attackes will end and we will be back on track.
Agree with you dutchf. As soon it was posted I thought bet in the next hour we hear from ron911 and well what do you know... coincidence? I think not.
Agree with the time table and that they will most likely be announced almost simultaneously. I'm still thinking/hope both can be announced done this month but I'll take early August also.
Perhaps he doesn't know that most office's are not open on the 4th of July weekend anyway?
Why do you say that?
Everything looks fine as far as I can tell.
http://www.bionitrogen.com/contact-us/our-headquarters/
I Agree with you. I think starting in July things will start advancing rapidly (and News will also) for the rest of the year. The frustration will end June 30 I Hope!
Hi dutchf, I would say it depends on how badly you want the shares. For example If you are more concerned about increasing your position the ask price is a sure bet. However if your looking for a bargain then you may or may not get it below the bid price and even if you do it may only be a part of that share order(unless you make it an all or none). Had that happen several times to me on an 10,000 share order (it just bought 200 shares) and never came back down to get the rest. Don't think your single order will reflect weakness or strength. At this point news or lack of it will do that.
The only mistake is to not think long term when investing in this type of stock.(also recommend you do your own researcher) I started investing three years ago so don't think you are alone. My Goal is to buy (this stock)only when I have the extra money(never more then willing to loss). I'm sorry about your financial situation but don't expect it to go way up in the next week or two (even though it could). In the long term this will(in my opinion) be a winning stock for you.
Best of luck to you.
I have been reading the posts and it is clear that roni911 has kind of vendetta against the CEO. I think both Aircorps and codaras have done a great job showing the inconsistency in this persons posts. Also After reading the case I think BION Has the advantage hands-down. I see this as a speed bump in the road. roni911 is just a squall on the road trying to get us to swerve of it.
I think we will all be very happy very shortly.
You are Very biased on the true facts. Did Carlos fire your mother or something? Is that why you are falsely accusing him? Just wondering.
If you look on page four it shows that:
Weighted average common shares outstanding March 31, 2015
411,000,500
Weighted average common shares outstanding March 31, 2014
347,209,990
I agree. Wouldn't surprise me to see this make it back over .03 by the end of today.
The thing that will turn the negativity around (need I even say)will be the announcement of the completion of the EPC report. That will not just be a great day for the company but for us long-term investors. Crossing my fingers that this quarter will finally see that milestone reached. Until then I'm sure negativity will be the rule. Waiting is always hardest but I still believe we are near the end. I just hope it's sooner(sometime in May) then later(June).
I'm starting to feel like we are close to some movement. Nice news article. The next few months should be interesting.
This is from that letter so no contradiction. He said second half of the year.
"Our best estimate is that construction on the Taylor plant will commence in the second half of 2015."
I think might be referring to the update given about the Taylor plant and the time table. We would like it done already but if the EPC is done by May as that report said and the Bonds sold some time after that(no later then July) then we should see the construction commence in the third quarter (hopefully). I believe they new that it was a stretch to get the EPC done before the end of the first quarter so they never totally committed to its completion then. I believe when they are close we will start to hear something and not before.
Agree, no real worries that i can find. People some times sell irrationally. I see any dip as a buy opportunity.
I think this is a typo from that article (let me know if I'm wrong). Should be 1.25 billion and not million.
The company would construct five plants and hire 260 workers to make fertilizer out of agricultural waste. $1.25 million in tax exempt bonds were approved by the Louisiana Community Development Authority in August 2013.
If you sold all your shares then you are not a long term investor in this as you told us. But that's ok. If you can't take the heat get out but you will miss out on the huge gains latter. I invested in this company because I believe in the vision they have put forth as well as the technology. Anyone in this for the long-term I hope will not be going anywhere. Especially on news that doesn't directly involve BION. The only way you loss at this stage is by getting out due to fear instead of facts in my opinion. Go BION!!!
I think things are just starting to warm up. Hang on to your boots everyone!
Three things that will make this stock go up and draw new investors.
1) EPC is confirmed.
2) The official selling of the Bonds.(already know who the buyer is)
3) official Ground breaking of the first plant.(In fall)
We know the first two must happen before the third.
Untill these things take place expect lower volume but they are coming. I think we are getting close now to some news on at lease one of these. The fall will be very interesting. Good luck to all and go long on Boin!
The first plant is expected to break ground in the fall. Should be operational within a little over a year. They will most likely have other plants in the works even before the first one is finished. Check out the robin cutting on you tube for more information.
I understand your frustration (and I share some of that frustration)but all will be explained in Good time. Currently Everything is moving forward and they are laying the foundation for the next couple of years. Better a slow and steady assent in the stock price then an artificial and short lived spike. If your in this for the long term then you shouldn't be very concerned. I've been in this stock for almost three years now and I figured then it would be years till this would really take off and that was before I knew just how big this thing was to become. At least we have a time table of things to look for. We didn't have that before the ribbon cutting.
Most of the Bigger investors are waiting on the side lines for the Bonds to officially be sold. I think the current price will be ancient history once that takes place. Just a Matter of time.
Depends on what you mean by "forever." If you are meaning the next month or two you could be correct but I see it in the next three to six months rising perhaps as much as three times the current price once the bonds are sold and as the construction of the first plant is progressing.