Alto Ingredients Inc (ALTO)

[moneym8ker]

I actually feel bad for the folks that bought into this pump and dump.

I mean, PEIX actually used to be a pretty reputable ethanol company.

We used to look at things like crush margins and transport costs to try to figure out projected P/E’s for ethanol companies.

PEIX used to issue fairly regular guidance.

Now...they’re hiring their own analysts who give these super lofty price targets that cannot be reached with commonplace valuations and what do they do?
They offer nearly $75 million in shares and sell into their own pump and dump scheme to raise capital to “pay off debt”.

They announced that they closed that offering in October.

It’s December and I have yet to see a single Press Release where they’ve said “we just used that successful offering to pay off $75 million dollars in balance sheet debt”


Such a crappy company now and clearly a scam.
Used to be a fairly easy company to invest in.

Now it’s just a dilution based Ponzi scam that has screwed, is screwing, and will screw common shareholders.