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Tuesday, December 01, 2020 11:43:35 AM
So they just sold their Burley property BUT KEPT the Ethanol Plant that they have yet to restart and they got $10,000,000.00 for the sale.
They stated that they used all $10,000,000.00 to pay down debt.
This should be good news.
Yet the stock is under pressure.
As worldwide Covid Cases soar and PEIX started producing disinfectant grade and specialty alcohols the stock remains under pressure.
Canada just said last week that they are going to raise the amount of ethanol in gasoline to help save the planet.
This should be good for PEIX too.
None of this good news is outweighing the fact that PEIX just diluted the common stock to the tune of TENS OF MILLIONS OF DOLLARS!
Wanna know why your stock is falling?
It’s because PEIX Management doesn’t care about the common stock...it’s a piggy bank for them that they use because they can’t make better day-to-day operational decisions.
I’ve said it before and I’ll say it again...
If you (yes you) are running a business in the red every month it’s time to start looking very critically at where the cash burn is.
If the cash burn isn’t in the lemons, and not in the sugar, and not in the water, and not in transportation then it may be the person collecting the money. It may very well be PEIX management getting fat paychecks and doling out stock rewards like Monopoly money.
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