Alto Ingredients Inc (ALTO)

[keekee]

I bought this today. Big Money kept it down for two reasons: To chase out daytraders, and to protest the continued conversion of the CDs into shares. But I looked at the PR and a quick glance at the books and you see a stock that should trade over 100% where it is now. IfSo far, $27 million was converted to 40 million shares at $0.68. Even if they decided to convert the remaining $6.4 million (there's no reason for that with all the cash they have) it will come to about 4.3 million shares and combined with the previous conversions would be $0.63 per share. The entire share count would be shy of 61 million. However, if the current earnings rate persists, at about $0.10 - $0.12 quarterly, OR $0.40 -$0.50 yearly per share earnings, the stock should be about $3. So, at $0.37, it is free money tripler!