Alto Ingredients Inc (ALTO)

[Rule_62]

Looks like there are costs rolled into the "Cost of goods sold" like the entire start-up costs for Madera.

That and/or Kinergy lost money on buying and reselling.

I'll do a comparison to the model later on, but at first glance, the actual product corn cost was in line, ethanol revenue was inline, return on co-products was considerably higher, the basis was actually under $1.28 . . .