Thanks. This is great data. This stock sound like the Ny Slimes Stock which should have been sold months if not years ago.
“So far, the stock went public (through a reverse acquisition) in the $10 dollar range, rising above $40 in May 2006, and currently trading under $9 dollars per share at a whopping P/E ratio of over 220. Since April 2006, insiders have cashed in 4.9 million shares of stock for income exceeding $1,200,000,000, with Jones and his son in law being on the receiving end of $530 million (Jones still holds 1.3 million shares). Insiders have now reduced their ownership to less than 20% (The DFA ownership % is also declining significantly). In 2006, after losing millions for three years, they were almost in a position to break even but issued $84 million in preferred stock dividends bringing them to a net loss of $87 million for the year (on sales of $226 million). That preferred stock is owned by none other than Cascade Investment, LLC (a Bill Gates investment arm) so all of the common shareholders now subordinated their interest to Gates.”
When liberals run companies and b$ like ethanol, the rest of us need to back away with our billfolds pressed against a brick wall.
My guess is they are much more interested in selling stock than ethanol. When the game is played out, shareholders will be bought out, for a nominal amount, by a big conglomerate saying that the small business just can’t operate on such small profit margins (see subject article of thread) or go private. Either way, they will disappear into oblivion obscuring evidence of what I consider to be just another scam.
In California, I’ve watched similar games in the solar and fuel-cell markets.