I have no idea what these guys are going to do. When I bought in, the word ethanol wasn't even mentioned. I predicted back a couple months ago that they'd do some kind of reverse merger issuing us shares for dividends -- but I figured their plan was to use the shell to take their other companies public.
They say they aren't going to abandon the shell, and I'm going to guess that they'll do something with it.
I almost hate to say this because in most cases, a reverse split isn't a good thing, but I think if they did a reverse split after the dividend, while reducing the authorized shares, it might actually be a good thing. 50 Billion shares is too many, someone will always be jumping out of it, and when you're selling millions and millions of shares just to get a few hundred dollars, the share price will always stay at .0001. I'm not saying it's impossible for it to go up, and I wouldn't have bought if I didn't like these guys. But I could be and probably am wrong about suggesting a r/s.
I think what these guys did is they obtained this crap shell, and several billion shares were issued since then, and they somehow sold those shares or obtained whatever from those shares -- giving them the ability to buy the ONYI shell. Ordinarily, I'd be raging mad that we financed their new company, but they plan on giving us a piece of it and they probably could have gotten away with not doing that or giving us much less. I think these guys are tricky, but I don't think they're crooks. I kinda like 'em, I think they want to do the right thing so everyone benefits. I think their ethanol business is legit, and I will hold my restricted dividend and root for the team. If I had the free cash, I'd probably have bought more shares but I got stuck in FGFC which really messed me up. Funny thing is I bought FGFC because it kind of resembled this company. Difference is, though, I did background checks on JMCP's management and found no prior evidence of stock manipulation or bad business dealings. On the contrary, read my old posts, you'll see that I couldn't find any dirt on this crew.
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