Alto Ingredients Inc (ALTO)

[kel3]

NET gain of 20.4 cents per gallon

Ethanol plant profitability improved following the pressure in the corn market. Neeley Biofuels posted a net gain of 20.4 cents per gallon. The hypothetical plant is used to measure how changes in commodity markets might affect actual plant margins.
http://www.dtnprogressivefarmer.com/dtnag/common/link.do?symbolicName=/free/news/template1&product=/ag/news/ethanol/commentary&vendorReference=0702BB21&paneContentId=35&paneParentId=0

NET Margins Chart
http://www.allendale-inc.com/wp-content/uploads/2012/10/ethanol%20margin.jpg


Gross Margins minus WDGS,Corn Oil and Sorghum earnings
51 cents

Corn Crush Margin

The corn crush spread, or the difference between a gallon of ethanol and the corn needed to make it, was 51 cents, versus 49 cents yesterday/West Coast Ethanol $2.47 a gallon,Chicago $2.345 a gallon
http://www.bloomberg.com/news/2013-08-16/ethanol-gasoline-spread-swells-as-corn-falls-on-crop-concerns.html

Simple Math ~

Sept ethanol $2.229 a gallon x 2.8 gallons per bushel = $6.2412 per bushel

Sept Corn $4.73

Ethanol $6.2412 - $4.73 Corn = $1.5112

$1.5112/ 2.8 Gal per bushel = $0.539

(Now Lets Do It With West Coast Ethanol)

Ethanol $2.47 x 2.8 Gal per bushel = $6.916

WC Ethanol $6.916 - $4.73 Sept Corn = $2.16

$2.16 per bushel/ 2.8

= $0.78 per gallon Corn Crush Spread

Now Do Your Own Math,and Add In

1.) WDGS earnings per gallon

2.) Corn Oil Corn Oil Earnings per gallon

3.) Sorghum Increased Earnings per gallon

(Keep In Mind ALL Debt Is Paid for 2013,next Debt is Do in 2014)

So Only Intrest,SGA, and Dividend Cost will be Payable thrue June 2014