Alto Ingredients Inc (ALTO)

[Rule_62]

I believe Neil included corn oil in the net 6-7 cents plant operating revenue increase. At 200M gal over the course of a year, that's $12M increased revenue/year (using $0.06).

As for interest costs, they amounted to $8.37M over the past 9 months. $1.1M of that was for Q3. Going forward, that would equate to $3.3M over 9 months (a $5M drop) or $4.4M over a year (extending that would give a reduction of approx $7.5M/year).

The two of them together would amount to $17.5M before taxes. Even if you allocate 50% for taxes, that's a net $8.75M available to shareholders.

Then there's the reduction in net profit allocated to 3rd party interests due to plant buy-back. That would take a little more work to figure out, but I think it's safe to ballpark at $5M/year.

Add that to the $8.75M and it's up to $12.75M. Divide it by 25M shares outstanding once all the warrants are gone, and you get a net increase of $0.50/year or $0.125/quarter.

Ok, that's my attempt at back of the envelope kind of numbers . . .