Post by
GngLong on Mar 21, 2018 10:01am
Sinking ship
5M shares sold in first 20 mins on the PINX this morning... by the time the vote happens shares are going to be completely worthless. The only thing we need now is the ER showing that they blew through all their cash last year. The kicker is that they have a production capacity equivalent to $60M USD annually, and they are probably only selling 20-25% of that. WTF were they thinking when proposing to build a second plant.... they can't even fully utilize this one. What I totally don't understand is why they can't produce 30k Tons of SA, and then partner with someone to produce bio-THF or bio-BDO to use up the SA that they can't sell.
Comment by
Livinbackin1982 on Mar 21, 2018 12:16pm
This article from yesterday suggests they have 10.2M in cash. https://oracledispatch.com/2018/03/20/bioa/
Comment by
GngLong on Mar 21, 2018 12:49pm
That was the amount that they had in cash for the quarter that ended 6 months ago... it's not recent. Of course, I really have no idea how much cash they are going to report on their next financial statements, but I am guessing that it's going to be low given the fact that they tried to raise capital so early in the new year, and then ended doing a direct offering at $0.15/share.
Comment by
jermiah777 on Mar 21, 2018 3:31pm
Excellent question. This is exactly my question as well. Has someone phoned management to ask this question? Seriously...