This Ford/Coke announcement can help get financing done over two bucks now. They will need to do a raise from the shelf registration at the end of the Q1. They anticipate reaching ebitda positive mid year 2014. All looks good, plus there is license interest all over the world, Canada deal is first in line.
You're a long timer here, so you must know this company is about to pull it off, or you would have moved on.
From CC:
Pat Gruber
That’s an interesting question and you know what our focus is, is making that plant EBITDA positive as soon as possible. And I think the middle part of the year is where we’re thinking about.
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We are talking to folks globally who are interested in the technology, folks in South America, folks in Europe, folks in Asia. Actually folks in the U.S. as well although, I think we’re still figuring out what’s the blend of owning versus licensing here domestically. And I really I think obviously it all plays into the success at Luverne. So the reason why IDBC was interested in signing up with us is obviously they could take a deeper dive into the technology as it stands right now. They’re seeing the improvements at Luverne. So that to me is the key inflexion point to really kick off these discussions kind of to a high level and get them to a more detailed level.
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Pat Gruber
We’ve begun to work on our licensing business. I am pleased that our technology is at the point where we can credibly do this. We have signed our first letter of intent to commercially license our GIFT technology. This LOI is with IGPC Ethanol. IGPC is a farmer owned co-op that owns a 150 million liter plant in Ontario, Canada and has been producing ethanol since 2008.
Sure. This is one is interesting because it’s actually a true license. This will be – we outright license the technology, the idea -- and we haven’t -- without talking about the specifics of this particular deal but the concept is upfront feed what’s been as royalties, provide the technology package and operating expertise and teach the folks how to do it.
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