5,4,3,2, One more month of string-along I have to respond to this statement made by a poster earlier :
“BXI has invented a way to extract protein from canola, proved it in a semi works setting that it can be scaled up commercially and now must negotiate to find a backer to finance the project. Two out of three. We wait to see if a global player will make it three out of three. Imo all that matters anymore”.
Read more at https://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=32587013&l=0&r=0&s=BXI&t=LIST#C4hTsE1AMxi3II1p.99
BXI has NEVER “ invented a way to extract protein from canola, NOR proved it in a semi works setting that it can be scaled up commercially”
In 2008 BioExx (then called Bio-Extraction on the Venture) bought the rights to a Solvent based extraction process from a scientist and registered a patent for it and built the Saskatoon Plant finished in April 2009. They sold the market on the proposed and potential of the low temp low toxicity Solvent called HFC-123 and they purchased 10 million in equipment for this purpose and they over promised that it would succeed.
This supposedly unique process was not an “invention” but a lab trial which failed miserably and it was reported in a public NR in Nov14, 2011 that it would be abandoned.
Some INVENTION !!
Next up in Nov 2011 was sudden new water based process that required an enzyme called Phytase and that was supposed to be a success but by Feb 2012 CS admitted it was not feasible to be profitable on that Saskatoon scale. The GEA report in Aug 2012 only PROMISED success at a higher scale but it was NEVER PROVED in a large scale.
The fact that nobody would invest 65 million in the Saskatoon plant to scale it up proves just how the market feels about this BioExx “invention” It will be sold at a loss – so who cares ?.
The Australian researchers are trying a new multiple phase solvent system to extract the fragile protein as was previously posted so it is obvious that there is no easy panacea just yet on how to commercially extract the Canola Protein in a profitable manner. Bio Exx was a small bit player.
Even Burcon has more expertise and success with products Clarisoy and Peazazz but even they too failed with ADM with their Canola Protein product Supertein and now ADM could careless for BioExx. They obviously would rather let Saskatoon burn than put up 65 million.
Financing is always a problem for new unproven methodologies and the market makes a point at 5 cents equity.
Once the plant is sold to pay off the existing debt there may not be enough to pay off the 3 million debenture holders from November 2012.
Juanito got sucked in by looking into the eyes of CS and drinking his Kool-Aid.
Try selling your 3 million shares you bought in December at 10 cents now.
At 12 cents you bought up more shares and said we would never see 10 cents again.
But you do believe in stop losses do you not so where is yours – 2 cents
Why are the insiders not lapping up the 5 cent shares ?
Next stop , file for CCAA and halt trade and then delist. Finally BXI RIP