GREY:BIXZF - Post by User
Comment by
shortthemktson Mar 11, 2011 4:11pm
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Post# 18273307
RE: RE: RE: great buying opportunity today !
RE: RE: RE: great buying opportunity today !down 10% today - and for good reason.
the market is finally starting to figure things out - don't listen to the lies from jackinthebox and the other paid pumpers.
He talks about the fundamentals:
- plant is already built, therefore the majority of costs are already funded - not true. phase 3 still needs to be funded
- already in production and producing around 10% - processing at 10% and producing nothing because of all the problems they talk about in the press release. More importantly, not selling anything for money.
- already have sale contracts in place for 70% of product - sure, but when, what quality and what price? It's animal feed. They have freely admitted this many times.
- have enough cash for the time being - HAD enough cash. They've burned through it and will continue to burn whatever is left.
Read the post from Rambler... he lays it all out. BXI is finished.
Meanwhile, insiders continue to sell the stock all the while telling people how rosy things are.
Down 25% so far this year