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Well its been fun...
Not really...
-Fish
Brad,
Did you finally buy in? I thought you may have lost your mind Friday and placed a substantial buy order... Curious if this is more dilution or something else?
-Fish
Mentally I'm well, financially thats a differnt story...
How bout you?
-Fish
Spock... We never really cleared the lid in the first place, just kind of swirled around the bowl... Who know we may shoot out of this thing yet, I know my brokerage account is sure hoping and praying for it!
-Fish
Talk about a long road ahead... Even to ge t back to the averages of 7 to 8 bucks much less the run to 18 as we had in the past! It will take alot of news to make this thing run.
-Fish
Interesting letter out by Haffey...
THREE MONTH REPORT FROM JACK HAFFEY
It has in fact been three months since I began working with the team here at Intrepid. It has been a fast forward and steep learning curve time. Communication with all who are interested in our company is at the top of my list, but not just for its own sake. Rather, I have waited until I had some important matters to report to you, to share with you.
That time is now.
The last six years or so have truly been start-up years. The years have been eventful with important ups and downs. They were necessary though, to bring us to where we are now and to set the stage for the future. By the way, the stock price and the market capitalization of Intrepid certainly matter, but for start-up companies in a start-up industry they simply do not tell the entire story. They tend to either understate or overstate a company’s real potential. In our case, they significantly understate it.
Here is the story about where we are and where we are headed, as I see it.
Our two plants, Whitesides and WestPoint, are now up and running. Whitesides gas and fiber is being sold in the marketplace. WestPoint is now providing its own plant fuel, has been producing fiber that the Westpoint dairy has been using so far and will soon be flowing clean natural gas into our high pressure trailer for delivery to Intermountain Gas, and on to households and businesses throughout southern Idaho.
We are now ready to invite the dairy farmers in the Western part of the Magic Valley to come and tour our WestPoint digester in action, to “kick the tires” so to speak. We will invite all dairy farmers for that matter and others interested in this planet-enhancing process to tour Westpoint. We are proud of our plants, our operating teams and our process. We believe it is all world class.
With both plants operating and producing visible results, we now want to listen to and talk with all the dairy farmers, ask how we can serve them best and start on a growth path to serve the farmers themselves. We want to take care of their manure management needs and help them focus solely on producing milk from their cows.
We have a unique product package to offer dairymen and other agricultural and industrial customers. Our systems occupy a much smaller footprint compared to other digester technologies, using about 1/4th the land area to process a similar amount of product. Our modularity allows us to expand as dairy operations expand and allows us great flexibility in operations.
Where do we go from here?
Like most successful start-up companies, we have the know-how and passion for our business. Now we want and need financial partners to go shoulder to shoulder with us to individual farmers and communities of farmers and start projects.
There is nothing but upside opportunity in our future.
We have demonstrated our ability to take manure and process it all the way to sparkling clean, green (renewable) natural gas. We do it as well as or even better than any other company in the world. In fact, to our knowledge we are the only manure to methane company in the world certified to meet the standards required to inject our gas into natural gas pipelines for delivery to gas utility customers. And, we produce very good nutrient and organic-rich fiber, verifiable methane emission reductions, or carbon offset benefits (carbon credits), and we are also anxiously working on a potential 4th product: a high quality liquid fertilizer concentrated from our otherwise “waste” liquid effluent. Given the tremendous increase in demand for fertilizer products accompanied by the corresponding rise in their price, the costs to produce such a product are becoming much less a barrier.
We have had challenges and met them through these start-up years- financial, weather delays in construction, plant start-up challenges and so forth. These have all been part of getting to today. We of course still have challenges, primarily financial and market-related, and with this report I am happy to tell you we are positioned to turn these challenges into real opportunities.
So, now we are ready to knock on the farmers’ doors and confidently ask them for the opportunity to serve them. We can manage their manure in a full service manner. First and most importantly though, we want to listen to the farmers, know their real needs and how we can help, sign agreements that are in their interest and ours and get going.
Idaho dairy farmers are among the very best in the world. To have the opportunity to serve them, help manage their manure, destroy methane and to create renewable energy in the process will be our honor. It also fits very well with Governor Butch Otter’s renewable energy commitment. We certainly want to be part of that great commitment as well.
It has been a long beginning to a much longer journey. Now we are ready to flourish, by signing with the farmers, with financial partners at our side, build digesters, change manure to green natural gas, fiber and carbon credits, all benefiting the farmers, Idahoans, and the environment in general.
Therefore, my friends, Intrepid expects to announce projects to serve dairy farmers in the very near future, to announce financial partners, and to sell our products in the marketplace. We are in fact finally lifting off the launching pad.
It will take work, of course, and for the team here at Intrepid it is truly enjoyable work. We look forward to lots of it.
It was probably his partial payment for his board spot he resigned from.
-Fish
Magnum,
The missed bond paymetn was in the latest filing with the SEC, and the closing office and other cut backs cam out of the annual sharholders meeting last year.
-Fish
Magnum,
Not sure how long you've been in but I have been in this for some years now and have continued to add even up to a month or so ago, my question to you in the recent news is how do you expect the company to survive until they get up and running (Which mind you is a year or more overdue)? In the recent days they have reduced staff to some minimal number, they missed the first bond payment, they have had to shutdown one of the offices (Needed to be done a long time ago), they are still struggling to get Westpoint online with some type of modifications still being made to all of the tanks at both sites, and they owe money to several folks that we continue to supplement via Cornell and shares issued. If they continue to stay alive really doesnt matter to you and I because our shares have been diluted so much and will continue to be diluted that they wont make good poo paper much less bring any value. Keep in mind the insider buying that is occuring is not very promising, It seems they are doing this in hopes of keep some demand for the stock so they can continue to push more shares into the market. Who knows maybe they will pull a couple pipelines outta their arse build out a few more plants and become profitable, anything can happen.
-Fish
Diversified I am, but a loss of this magnitude still hurts.
-Fish
I have now removed the rose colored glasses and come to the realization that this bird is nothing more than a steaming pile of fecal matter which just spewed outta pregnant dairy cows arse, I believe Cheech and Chong starred in a movie similar to this company... What was it... OH YEAH "Up in SMOKE"... yeah thats it.
I did notice how they are updating the website every week (ie. adding periods and moving names around) to make it look like they're doing something. I expect the next substantial filing will be one announcing bankruptcy... Well I must say I bought in lock stock and barrel, OUCH that left a mark, Brad you should of warned me about this terd.
-Fish
Looks like we have a new fiber outlet...
http://biz.yahoo.com/iw/080513/0396503.html
We should be seing a Qtrly release on revs this week I believe? looks like Dustin is still the mouthpiece for the company, I wonder what Haffey is doing?
-Fish
Speaking of PR's and the past 4 years, I remember whent the company could post a PR and the stock move 30% or better. It would be nice to get a little more attention and get some folks interested in the company.
-Fish
I wonder if the 30% increase gets us back to pre-rumisen rates?
-Fish
Brook,
The only problem with the whole thing is they have to make money. No matter how good the technology is if they cant sell it or profit from it, we as the shareholders suffer. I have been reading PR's just like this for the past four years and to be quite frank I am tired of hearing about it. I want to hear about profits and positive funding, hell even the mention of new project would be nice. They had two years with the two tank operation at Whitesides to tinker, its time to produce now (And I am not referncing gas).
-Fish
Dissapointing....
Looks like Haffey made his first purchase, he is easing into it just like Brockage. It sure seems like he (Being CEO and all)would of invested a little more than 5K into the company, especially at these levels.... unless it isnt worth .35? I need to have my shares issued before they become extinct, at least then I can wipe my arse with em'... not sure that is a good idea either considering this company is irritating me enough already...
-Fish
Brook,
I watched Mike in action, that was interesting. I tell you the dairy life has gotten a bit complex over the years, I was amazed at the technology through out the whole operation.
-Fish
Considering Kaiser hasnt bought any substantial shares in a few years, with the sudden buy and large amount one must assume he is trading on inside news... I believe this would be a bit illegal?
-Fish
Anyone have any thoughts on the filing that popped up today... it is dated the 17th and refers to private placement notification?
-Fish
Looks like it was one big purchase, Maybe Haffey is grabbing a handful of discount shares?
-Fish
Looks like a good bit of volume today, I wonder what's going on (Besides dilution)?
-Fish
I nice quiet death, isnt it nice.
-Fish
I figured Brockage would throw in a few more grand to show his shareholder support, this feels so good.
-Fish
I can only guess who the two are...
Man,
I dont mean to sound to negative, but where in the world will the get the gas to fill these contracts? The two facilities even producing 100% will not pay the bills, they have stated that already... They have dug themselves one helleva hole and they are standing on shareholders head to stay out of the rising watertable, I remember back in 04 when I bought into this outfit they had around 75 million outstanding shares (I think) I blinked and we where at 250 million with pps in the dumps. I can only imagine how fast they will dilute once again, they have to build out and pay for the two losing facilities. Ahh what the hell, who knows I may wake up in the morning and see 18 bucks... It has happened... I heard hell froze over once also...
-Fish
It will ease the anal pains I have. I must say I like Purl's idea over the at IV.
-Fish
I havent made it yet, I believe I will burn that cash in wiskey. That my friend is a for sure bet.
-Fish
Ahh the consultant has been named...
Drum roll please...
YA Global, I can't believe it, I would of never guessed.
I wonder if there is a limit on the number of splits you can perform in a given year? This little dumpling should be sitting at a market cap of about 20 bucks by months end.
-Fish
I mention due to the fact that with the oringinal lower expected revenue, I wonder if the high price will now make it profitable to continue trucking. I am also curious if they're just trying to show some revs regardless of the return?
-Fish
They have added pictures to the site this A.M., they leave me wondering what the fuel bill is when fill up time comes around? I know mine is just over 80 bucks... Cant imagine hauling is going to be a viable option.
-Fish
I am not sure any PR release will reflect on current PPS at the moment. I am not sure the new ticker and R/S has fully set in, We will see what next week brings once the dust settles and the PPS finds its new base... if there is one?
-Fish
I had been drinking a bit, so my typing was similiar to my speech. Had to get that off my chest...
-Fish
Boy howdy, are we in for a roller coaster ride, Brad do you have that website again (The AA one). Now my question is can they make anything of this? Could they possibly work the split on Friday and have a drawer full of news to bollster the price up and recover such a split, If I recall correctly EPG did just about this same thing of course not near the split but ended up around the dollar mark and progressed slowly. I sure hope they have a plan, otherwise we're in for a train wreck.... come to think of it the wreck is over, I just here the second train coming down the tracks...
Burbon on the rocks...
-Fish
What an exciting week this has been, I reckon I will have to buy some more shares to shake out all the bad news. Seems everytime I buy something happens...
-Fish
Also looks like Brockage is picking up a few more crumbs, another $1200 invested. I guess the old phrase slow and steady comes to mind here, it would be nice to see a few more board members/employees pick up some shares to boost a little confidence.
-Fish
looks like a S-8 just came across to pay consultants of the company in shares rather than cash, I wonder if any consultants will work for shares?
Looking forward it may be prudent to throw in AA's site also.
-Fish
"An industrial user near the Company's Whitesides plant has entered into a fixed price contract to purchase ITR's biomethane to replace propane for the upcoming 2008 production campaign which is expected to be underway by the end of March"
I sure hope they keep to thier projections, they can afford to many more missed promises... I guess I had better say "we" cant afford any more missed promises.
-Fish
Thanks for looking out for my best interest. My wife will appreciate this.
-Fish
Not yet, but we are looking to travelover to louisianna here in a few weeks. I hope a fair a bit better there than I have in the market.