This offering reeks of BioCentrics Energy......... I'm curious if any of the investors actually read the S-1 or if you just relied on hype. The filing clearly states that (a) they make oil, and (b) they don't have the supply contracts for the feedstock to make the oil ("The inability to obtain feedstock in sufficient quantities or in a timely and cost-effective manner may limit our ability to produce our products" and "The production of our microalgae-based oils and bioproducts requires fermentable feedstock. The inability to obtain feedstock in sufficient quantities or in a timely and cost-effective manner may limit our ability to produce our products"), and (c) that they expect to find partners who will grow the algae at the partners' expense ("We expect to further scale-up in a capital efficient manner by signing agreements whereby our partners will invest capital and operational resources in building manufacturing capacity, while providing access to feedstock"), and (d)" We rely on third parties for the production and processing of our renewable products. If these parties do not produce and process our renewable products at a satisfactory quality, in a timely manner, in sufficient quantities or at an acceptable cost, our development and commercialization efforts could be delayed or otherwise negatively impacted." With regard to their products, " We may not be able to obtain regulatory approval for the sale of our microalgae-based products and, even if approvals are obtained, complying on an ongoing basis with the numerous regulatory requirements applicable to our various product categories will be time-consuming and costly" and they forgot to mention that the US Govt paid the equivalent of $425/barrel for the fuel that was delivered in 2010. Good luck to all!
