Alto Ingredients Inc (ALTO)

[Rule_62]

(edit) They provide it in most of their conference presentations. You can find it here in the footnote on slide 17. Here is that footnote:

*Calculated by using industry standard conversion yield. Using
PEI ethanol sales price, corn basis and co-product return as disclosed in Form 10-Q for each quarter assumes a standard 2.74
in corn yield, consistent across all periods and all plants. Actual conversion yields may differ. For July and Aug’14 margin,
used OPIS LA, CBOT Corn, market corn basis, and Q2’14 co product return.

I don't have access to the OPIS LA price but I do have the equivalent California pricing reported by Progressive Fuels. I use the midpoint between the bid and ask price. Friday's price would be $2.725 for ethanol, and $3.8175 for corn. The accepted basis for corn delivered to California is $1.28. The product return is 30% of the net cost of corn.

So

PEI Ethanol – (CBOT Corn+basis) *(1-Co product return)/2.74
$2.725 - ($3.8175 + $1.28)*(1-0.30))/2.74 =
$2.725 - $5.0975*0.70/2.74 =
$2.725 - $1.30 = $1.425

FYI the low was $0.502 on October 2nd. It's been climbing ever since.