Rawnoc....If he can pull it off, it's a worthy deal. Obviously, shareholders who were hoping for $5 in the next 12 months are appropriately disappointed in the company selling even more shares under $1. (But, like I said in my previous post, selling shares at 75% of the 200 day moving average of 99 cents isn't that low. It's just low based on future potential). Perhaps they already have the buyers for the fuel and just need the product?!? Grab the market share while you can before someone else goes after it?!? More explanation is needed during the cc call. Direct questions need to be asked.
Overall for Imperial.....The biodiesel business is such a cash cow for them, I wish the CEO would just focus on that, build up revenue/net income, pay off debt and make the company legit in the eyes of institutional investors. Perhaps this is his approach here. His desire for diversification/acquisition has not paid off well yet and needs to be put on the back burner until the company is financially stable imo.
