1. sales stateside up 75% Q over Q on human ingredients and 44% of animal feed. Brazil is a huge drap, but Q 4 will be better.
2. Next year moving the headquarters from Arizona back to Sacramento, the heart of rice country, and home of UC Davis, where a lot of rice research takes place.
3. They got bigger sales with 20% less sales people and they will do 70% less food shows next year, focusing on big customers instead and have had great success. Also dropped a number of consultants. I feel Short was rather green in sales procedures and Goose, a former Hain man knows the business much better.
4. Now my speculation. RBT's partner infused over $1,000,000 into Brazil, the black hole. And that might be a prelude of a sale of Irgovel. Twice CEO Smith mentioned selling unneeded assets to help fund the move, which won't cost that much. They don't have any assets to sell other than Irgovel, IMO. They are searching for more rice mills in Louisiana for future bran, so they won't be selling any unneeded extruders. Now my speculation. If they could sell Brazil and get some cash. Smith at the last CC mentioning raising capital in the future to build a RBO plant in the Sacramento area. Tie that thought to point two, moving the corporate office to Sacramento. And a reminder, Sacramento does have access to the ocean through the Sacramento river. OK, now that is a ways off.
5. If they can get ride of Brazil, RBT will be making a profit. I look for a profit in Q2, speculation again.
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