Alto Ingredients Inc (ALTO)

[kel3]

Milo .90c Cheaper for Stockton Plant = $1,333,395.00

Imported Argentina Milo .90c Cheaper than Corn for Stockton Plant = $1,333,395.00

1. Imported Argentina Milo .90c Cheaper than Corn for Stockton Plant at 1/3 Ratio

.90c/2.8 Gal per Bushel = .321c

.321c per Gallon Produced with Milo

1/3 Milo to 2/3 Corn

.321c/3 = 10.71 c per Gallon

Cheaper Ethanol at Stockton Plant = .1071c per Gallon

Stockton at 83% Running Capacity from Slow Down = 12.45MG

12.45MG x .1071c = $1,333,395.00

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Margins Are Better In Q4 than Q3

3rd Quarter Corn Vs Ethanol

Ethanol is Aprox. 5% Lower than Corn the Majority Of Q3

http://www.barchart.com/chart.php?sym=ZCH13&style=technical&template=&p=DO&d=M&sd=07%2F02%2F2012&ed=09%2F28%2F2012&size=M&log=0&t=BAR&v=2&g=1&pct=1&evnt=1&late=1&o1=ZKF13&o2=&o3=&sh=100&indicators=&addindicator=&submitted=1&fpage=&txtDate=08%2F31%2F2012#jump

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4th Quarter Corn Vs Ethanol

Ethanol is 2% Lower than Corn Average Q4

http://www.barchart.com/chart.php?sym=ZCH13&style=technical&template=&p=DO&d=M&sd=10%2F01%2F2012&ed=12%2F31%2F2012&size=M&log=0&t=BAR&v=2&g=1&pct=1&evnt=1&late=1&o1=ZKF13&o2=&o3=&sh=100&indicators=&addindicator=&submitted=1&fpage=&txtDate=09%2F28%2F2012#jump

.05c Loss In Q3 Should be Cut In Half just Using Corn

that Would Mean a .025c Loss per Shr. in Q4

then Factor In

1.Improve the balance sheet and operations by reducing financing costs

(I Really Don't Know What This Is Worth per Shr.)

2.And Maybe ~ D5 RINs for Stockton Plant per Year $24 Million per Year

(the Same as Keyes $24 Million per Year)

$24 Million/4 Quarters

= $6 Million

Another $6 Million from RINs Would Be Great !!!

I Think Its a Done Deal,We Go Positive this Quarter

EASY COMPS All Year,Here Is Q4

~ Analyst Estimate - .06c for Q4 2012

~ Year Over Year 2011 Q4 loss of $2.4 Million

~ Quarter Over Qaurter Q3 2012 Loss of $2.4 million