Alto Ingredients Inc (ALTO)

[Harry Winston]

The previous message stated a reason for the sale of some stock, but there was no documentation of that reason. I can't accept this reason without some documentation of it, so I don't think his motives will ever be known.

As a PEIX shareholder, I'm concerned with the supply-and-demand economics of the shares, specifically the supply of them (the number of outstanding shares, plus the number of shares that are offered for sale on any given day) and the demand for them (the number of shares that people want to buy on any given day).

In many companies, these numbers are influenced by stock options given to officers and directors of the companies and by stock that is used to buy smaller companies.

I'm happy that PEIX stock has been trending up during the past week or two. I'm also happy that the Book Value of this stock, documented by regular submissions of 10-Ks and 10-Qs to the SEC, is six times the current trading price. This is an obvious upside to the stock price, and because the lawsuit with Greenshift is unlikely to be resolved this year, the PEIX investors are likely to see higher prices.