BioNitrogen Holdings Corp. (BIONQ)

[Richard2112]

Gatorlady, in La they were approved around 1.5 billion in bonds for 5 plants. BION has not pursued those plants and instead focused on getting the Florida plants built.

They were originally based out of west Texas, Lubbock if I recall correctly. They had some land but abandoned those plans because of the lack of biomass and moved to Florida. I recall they said at the time natural disasters in west Texas are drought which means less biomass possibly for long periods of time. In Florida and Louisiana natural disaster is hurricanes/storms which result in an excess supply of biomass. So it only made sense that they gave up on the idea of a plant in Texas.

I don't believe the new patent will have anything to do with the plants in Florida. The original concept of BION was to build smaller less expensive urea plants that served the general region in which the urea was produced. So I could see the new technology someday being used to build a small plant alongside oil fields to utilize the wasted ng.

I know your skeptical about BION and that's understandable. I've been following BION since 2012 and I can tell you that I don't believe they are a "scam" company. I think they are legit but I will also say that although they have made some good progress they are still in the same position as they were in 2012, a company with a great idea and not enough money to get it done. I think they will ultimately succeed which is why I own stock but I (and everyone else on this board) understand that startups are risky bets.