Wonder why they did this through June and not August.
"The Company has no operating history in the ethanol and bio-diesel business upon which an evaluation of its business and prospects can be based. Since inception, the Company's ethanol and bio-diesel business has incurred no sales and income. The Company does not expect to achieve profitability for the next several quarters, and there can be no assurance that it will be profitable thereafter, or that the Company will sustain any such profitability if achieved. The limited operating history of the Company makes the prediction of future results of operations difficult if not impossible, and the Company and its prospects must be considered in light of the risks, costs and difficulties frequently encountered by emerging companies, particularly companies in the competitive alternative fuels industry.
The Company will need to obtain significant equity and/debt financing to fund the build its own state-of- the-art ethanol and bio-diesel processing plants and bio-refineries in both the U.S. and the Caribbean, each with a capacity of 150-250 million gallons of ethanol and 50 million gallons of bio-diesel. Management anticipates the cost for our first project, a Bio-diesel plant in California, to be $37,500,000. The components of this investment are $9,000,000 for property and $28,500,000 for Machinery and
Information and Disclosure Statement Pursuant to Rule 15c2-11(a)(5) Page 24 of 26
Equipment. The Company has no commitments for debt or equity financing for the California plant or any other plant. The Company cannot assure that its operations will generate positive cash flow or that it will be able to obtain equity or debt financing necessary to complete, or even to start, plant construction projects on acceptable terms or at all. To the extent that the Company cannot obtain adequate financing, it will be unable to complete its current construction plans, which will cause the value of an investment in our company to decline."
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