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Could be a way to get cheap shares in this company, or the next if their is a share trade off. Coppering a bet. Wasn't me, but I have to admit, I thought about it.
BioNitrogen Holdings Settlement Approved
The U.S. Bankruptcy Court approved BioNitrogen Holdings’ settlement agreement with the City of Perry.
As previously reported, “The settlement resolves all matters and disputes between the parties, including the Community and Southern Bank (C&S) Claim and Perry Claim. In addition to the resolution of the C&S Claim and Perry Claim, the parties desire to establish a prospective business relationship, wherein BioNitrogen Holdings will proceed with the development and building of a biomass facility in Taylor County, FL….[I]n consideration for the assistance that Perry, FL will provide in this endeavor…[T]he C&S Claim shall be allowed as a general unsecured claim in the amount of $3,068,090.72….Upon the effective date of a confirmed Chapter 11 Plan….Perry shall receive a sum equal to 20% of the C&S Allowed Claim.”
http://bankruptcompanynews.com/bionitrogen-bankruptcy-news-6-8-16/
All it takes is for 1 plant to build and hit then all will welcome them with open arms.
Still in here.
BioNitrogen Holdings Corp. Announces Agreement with City of Perry, FL
BY PR Newswire
— 5:31 PM ET 04/13/2016
MIAMI, April 13, 2016 /PRNewswire/ -- BioNitrogen and the City of Perry in Taylor County, Florida are pleased to announce an agreement in principle which will address the City of Perry's unsecured claim against BioNitrogen ( BIONQ) (in its Chapter 11 restructuring process) and at the same time give BioNitrogen ( BIONQ) a place to build its first facility, with the full support of the municipality and the state. On emergence from Chapter 11, BioNitrogen ( BIONQ ) will immediately move to complete the necessary engineering design work specific to a planned location in Taylor County, and secure the necessary financing to build the facility.
BioNitrogen Holdings Corp. Logo
According to Graham Copley, CEO of BioNitrogen ( BIONQ), "BioNitrogen's ( BIONQ ) move to seek bankruptcy protection was due to poor financing decisions made in the past, and never about the validity and value of the process and its underlying technology. The original project to build in the City of Perry was sound and we are delighted that the City and the community continue to support us with this agreement. The location of the facility could not be better placed logistically, and the region is rich in biomass feedstock, contributing to the financial success of the plan. Having the location and the plan to build what would be our first showcase plant, facilitates conversations with possible strategic and financial partners."
Bob Brown, City Manager for Perry, commented: "We are pleased to have this agreement with BioNitrogen ( BIONQ) and we look forward to their successful restructuring through the Chapter 11 process and their immediate focus on Taylor County as a first place to build. This project will create jobs and a broader economic benefit for the county and the City. The City of Perry and the community is committed to providing whatever logistical and technical assistance we can to BioNitrogen (BIONQ) to bring this project to life."
Dustin Hinkel, Taylor County Administrator, said: "We are happy to see that BioNitrogen ( BIONQ) and the City of Perry have reached an agreement that will bring many high-paying jobs to the county and restore the community's investment into this project. This agreement shows that BioNitrogen ( BIONQ) is emerging from its restructuring as a committed partner to our community. I look forward to working with them to bring more jobs and economic activity to our County."
Scott Frederick, Director of the Taylor County Development Authority said that "the TCDA Board earlier approved the issuance of a $300 million tax free bond for this project. We are excited that this agreement can put BioNitrogen ( BIONQ) on a path to utilizing the bond toward the construction of its first plant in Taylor County, Florida."
BioNitrogen's ( BIONQ) attorney, Jacqueline Calderin of Ehrenstein Charbonneau Calderin and City of Perry's attorney, Scott Williams of Rumberger, Kirk & Cardwell have worked extensively on the preparation of a term sheet that memorializes the agreement. The parties will seek approval of the agreement from the Bankruptcy Court in the coming weeks.
About BioNitrogen Holdings Corp. ( BIONQ)
BioNitrogen Holdings Corp. ( BIONQ) is a cleantech company that utilizes patented technology to build environmentally friendly plants that convert biomass into urea fertilizer. Additional information can be found at www.BioNitrogen.com.
Roni, not recommending buying more but watch and see but I refuse to cry over what I cannot do anything about. I knew the odds when I bought and accept the outcome. I would prefer to be on the good side instead of the other but that's the way the ball bounces. I do still believe in the technology and trust that someone is smart enough to make good on the use. I just hope the good people make good and the crooks rot in hades. It sure seems to me you, if you are who you pretend to be, would be interested in wanting the stock to succeed. If it is wiped out, so are your claims. You would be better off if this thing made a come back. Just my 2 cents as thats all I can afford. ....lol
Damn Gatorlady. You still sound like you are in bed with roni. So damn negative all the time like you are still trying to drive people to sell. YES, there is a distinct possibility we all eat it, but, I am still here. What happens, happens and what goes around comes around. Not all people are heartless. Let's hope we are dealing with the good and decent kind that can find it in their heart of hearts to do the right thing. (Rose colored glasses needed) Go BIONQ!
Understood, I just pray it pays off. Gut feeling again. For whatever that gets me.
Well, I hope we both win because I just bought more. Go BION!
I also am an amateur small time investor. I do not have a bunch of money to throw at anything. My investments build up over time. I would have been putting more money over the time period, maybe at smaller pieces than I am buying now, but time is also money because, in my situation, I would still have more shares when this thing bounces to the good side. Of course, that could be more shares I lose if this thing goes bust, but I am confident in the technology. Maybe rocky management, but good technology. And no, I have not been compensated in any way to say this. It is just MY gut feeling. I have been wrong before.
Yeah, I know. Not much help, but, that's all I have.
Floyd
Yes Roni,I am still buying. If I lose I lose. If it hits I win ,and we all win, big, Except, maybe, the ones that try to sabotage the stock for their own personal gains. No matter which side that might be. I know the prof that developed the technology. I wish he had told me about it but I had to find out about it on my own. I would have bought in sooner. The technology is that fantastic. God's speed Roni. I hope you get what is coming to you. One way or the other.
Floyd
Negative, buy it for the regular low price through my brokerage firm.
A great day for buying!
Ladies and gentlemen, I am a believer of this technology. I know in my gut this thing is big and a real game changer in the industry. There are many factors for any company to make it in real life and being a start-up, with a new, and might I add, unaccepted by customary, technology the challenges will be threefold but can be overcome. I am in this thing till the end. I have invested a lot, for me that is, and am convinced the present administration will make it work or there will be an influx of funding by a significant backer, AKA DuPont, Potash Corp, Terra Nitrogen Company LP, or even someone like Monsanto that realize what kind of potential, or competition, that is on the horizon. Yes, this company has been mismanaged by the former CEO and some of his doings but nothing that cannot be rammed through with the right guidance. I do not have investor banking knowledge and can lose my shirt but something tells me it is a good think in the long run. Long story short.....I am buying. Go BION.
Not saying that BION should make jet fuel but maybe they should look into this program. ....
http://www.biofuelsdigest.com/bdigest/2015/07/21/fedex-southwest-airlines-combine-to-buy-entire-jet-fuel-output-of-red-rock-biorefinery-through-2024/
Still buying!!!!!
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 7, 2015
BIONITROGEN HOLDINGS CORP.
Exact name of registrant as specified in its charter
New Jersey
33-36670
22-3061278
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
8300 NW 53rd Street, Suite 350, Doral, Florida
33166
(Address of principal executive offices)
(Zip Code)
561-600-9550
Registrant's telephone number, including area code
1875 NW 18th Terrace, Suite 105, Doral, Florida 33172
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
BioNitrogen Holdings Corporation is referred to herein as "we", "our" or "us.
Item 4.01 Changes in Registrant's Certifying Accountant
(a) On July 7, 2015, we approved the appointment of Mallah Furman, Certified Public Accountants, as our independent registered public accounting firm for the fiscal years ending December 31, 2014 and 2013. This action effectively dismissed RBSM LLP ("RBSM") as our independent registered public accounting firm as of July 7, 2015.
RBSM was hired as our independent registered public accounting firm for the fiscal years ending December 31, 2014 and 2013; however, as of July 7, 2015, RBSM had not completed the audit work for our fiscal years ending December 31, 2014 and 2013. Accordingly, there are no reports by RBSM for the 2014 and 2013 fiscal years containing any opinion, including an adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles. In connection with the planned audits of our consolidated financial statements for the fiscal years ended December 31, 2014 and 2013, there were no disagreements with RBSM on any matters of accounting principles or practices or auditing scope and procedures which, if not resolved to the satisfaction of RBSM, would have caused RBSM to make reference to the matter in their reports. There were no reportable events (as that term is described in Item 304(a)(1)(v) of Regulation S-K) during the two fiscal years ended December 31, 2014 and 2013 or in the subsequent periods through March 31, 2015 and June 30, 2015.
We have provided a copy of the foregoing disclosures to RBSM and requested that RBSM furnish it with a letter addressed to the Securities and Exchange Commission stating whether RBSM agrees with the above statements. A copy of the letter, dated July 15, 2015 is filed as Exhibit 16.1 to this Form 8-K.
(b) During the two most recent fiscal years and in the subsequent interim periods through March 31, 2015 and June 30, 2015, we have not consulted with Mallah Furman with respect to the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that would have been rendered on our consolidated financial statements, or any other matters set forth in Item 304(a)(2)(i) or (ii) of Regulation S-K.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No.
Description of Exhibit
16.1
Letter from RBSM, LLP to the Securities and Exchange Commission dated July 15, 2015
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
BIONITROGEN HOLDINGS CORP.
Dated: July 16, 2015 By: /s/ Carlos A. Contreras, Sr.
Name:
Carlos A. Contreras, Sr.
Title:
Chairman & CEO
3
EXHIBIT 16.1
July 15, 2015
Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549-7561
We have read Item 4.01 included in the Current Report on Form 8-K of BIONITROGEN HOLDINGS CORP. dated July 7, 2015, to be filed with the Securities and Exchange Commission. We agree with the statements concerning our Firm in such Current Report on Form 8-K. We have no basis to agree or disagree with other statements of the registrant contained therein.
/s/ RBSM LLP
http://www.streetinsider.com/SEC+Filings/Form+8-K+Bio+Nitrogen+Holdings+For%3A+Jul+07/10728667.html
I'm in for Charleston! Great city and AWESOME PEOPLE!!!! I'm also in for BION! Staying strong and still buying......
4th paragraph.....The Company’s proprietary technologies transform residual agricultural and forestry waste and other biomass materials
into urea for sale to farmers and agricultural wholesalers and retailers. Activities to date include completing the fixed price EPC
(engineering, procurement and construction) contract, obtaining patent-pending technologies, hiring qualified personnel,
acquiring land and raising capital to fund operations.
Understood, but information is information no matter how it derives. When and if there is a shareholders meeting everyone gets to layout their position and then we see where it goes. You realize, information is the key. Most people will listen to the information at hand even if it is wrong. The only way to counter this is with good information, of which there has been none. I for one am buying. This is too good of a long-term opportunity IMO.
Go Bion!
Hey everyone, do not belittle Roni911, his position, and his passion. Through him we have been able to learn more about what is going on. Whether his position is good or bad, it is an opposing position. We can all learn from each post on this board and it keeps us more vigilant and not just sheeple. No one is above being bought and sold. We just have to trust in the Good Lord above and pray this thing works out. I can not see anyone throwing away what is already accomplished with the contracts that have already been let and the work already done.
Thanks,
Floyd
Looks like it's about time to buy some more. Go Bion!