Food Innovation

[wow_happens28]

I don't think the quarter was all that bad if you take out the $1,000,000 defective product cost. And RIBT has NEVER had a write-down like that. EBIDTA loss would have only been $323,000 without the loss. Cash at the end of the Q was $5.1M, down from $5..6M . And installation cost getting ready for the new product added more cost. From the call, "I'm very pleased to report that both facilities rose to the occasion in the second quarter by meeting strong demand for high quality, domestically sourced grain, generating mid double digit revenue growth and improved contribution to gross margin. In particular, MGI generated solid year-over-year improvement even while working through operational challenges due to capital improvement executed in the quarter"

That new companion pet product equipment is being installed for will be huge. About their building at Lake Charles from the call, Mitchel>> so that we can better service our new companion animal customers in terms of what they want, from us maintaining an inventory buffer, having certain specs and testing met, and the format that they wanted to deliver it. So all of that is now in place, and online and ready to ramp.. So making use of a building their own(never used either, lol), this is huge. And Mitchel from the call, " And that the category itself, as Peter alluded to, could eclipse the equine business."

Mitchel said at the CC " we will be more proactive in releasing news about what's going on under the company. ". The "Quiet period is now over.

My thoughts about the reverse split. Most companies that have a reverse split are in trouble and the split are often tied to a fund raise as well. RIBT fits neither of those. I personally am adding adding cash to my brokerage account to pounce on any stock drop because of the reverse split. The big money fundamental holding institutions look 6 months ahead. I hope they see what I see and the stock goes up between now and a day after the split. Still with monster news about who, what and when about the new pet product may make a split not needed. RIBT is not making the product it seems, just major ingredients. If it is a big name it pet food, wow_will_happen. That is a BIG hope, not planning on that.

https://www.stockilluminati.com/ribt/display.php?url=https%3a%2f%2fwww.stockilluminati.com%2fribt%2fsanews.html