Looks increasingly like this is going to happen. Stock looks like it's bottomed and is building base for moving higher.
"Alliance upped its bid for the plant and property twice to dissuade competing bidders. Now the company is in the process of raising cash to close the deal by offering $10 million in preferred stock to brokers and investors. That offering closes on May 22, after which Alliance will put all the cash for the closing into escrow. De Liege said he should have a concrete answer from the bank and the Department of Agriculture a couple weeks after that. The sale could close 30 to 60 days later, or by the end of the summer.
"Once the cash is raised to purchase the plant, de Liege said Alliance will enter the second phase of raising funds – $20 million to convert the plant, hire employees, pay overhead, begin production and continue research and development of applications for the bioethanol produced.
"That round will be accomplished via a Regulation A Plus offering on the New York Stock Exchange. “People keep contacting us asking what they can do to help make this happen. So in a few months, probably by August, thanks to this special Reg A Plus program for small companies, individuals will be able to go online and buy one share of stock if they want, on the New York Stock Exchange.”
"Parallel with raising funds, Alliance has been busy getting ready to convert the plant. De Liege said the company’s engineers have already built the reactor that will break down the feedstock and, with the Kaolinite clay as a catalyst, turn it into the simple sugar needed for the ethanol fermentation process.
"The equipment used to mechanically pound the green material to a pulp has been repurposed from the coal mining industry. “We built it up in Chattanooga, Tennessee and it’s ready to move down to Florida and install in the plant,” de Liege said."
