Precisely. But what's really funny is the 1st reply to that article, where the poster states that PEIX just sold some more warrants. He clearly didn't get so far as to even read the headlines!
If I'm a prospective new investor and I see that big fat 69 cent loss for Q1, bigger than the ACTUAL losses for several earlier qtrs. for PEIX, it makes it seem that PEIX is still quite "inconsistent" in its development.
This is why, like it or not, the GAAP EPS will be important. Again, not important for long-term buy&hold shareholders, but for everyone else.