RIBT shareholders have been disappointed for 200 years and now expect the worse. The way I see it is the new product is going to be huge. They have added extruders at Mermentau, And they added the building at Lake Charles to store extra product and test for quality. And they installed new equipment at MGI. And they would have been only $323,000 short of cash flow positive if not for the $1,000,000 defective product problem, something that has not happened before. In the call, the new product is ready to go. If no sales in Q3 and maybe a bit more loses, the cash on hand is still just fine.
So when the new product comes on line, they don't need cash from the sale of Golden Ridge....... unless they have plans to expand the higher value ingredients with a higher markup than milled rice.....WHICH I BELIEVE IS THE PLAN.
Ok, what could go wrong? And I can see no_static rolling his eyes and thinking there goes hunkonaroof again. But hey, it is the only thing that makes sense with what is known now. Why sell Golden Ridge if you don't need cash and cash should improve DRASTICALLY IN Q4 as is with the new pet food.
Upcycled food? No comment on that at the CC.
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