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Pacific Ethanol, Inc. (PEIX) Message Board

  • misskellyfitz misskellyfitz Jun 9, 2013 1:03 AM Flag

    I think it's Possable they don't Dilute

    Judging by Margins Since April,they Have a Ton Of Money.

    As I Recall,elahens Said Last Months Margins Could have Made It a $10M Dollar Month.They Have Already
    had 2 1/3 GREAT Earnings Months.



    the Money is There to Pay Debt and Open Madera With Out Diluting

    and management forgoing any of their bonuses/compensation in 2013 ?

    They Get the Money from Warrants being ex On the Way Up from Great Q2 earnings to Buy Back 17%.

    They Could Avoid Diluting

    Question Is:

    Is Neil a Good CEO,and Does He Do the Right Thing ?

    Thats Not the Behavior I've Seen from Management In the Last Year,Thier Modus Operendi Says they Dilute.

    I Would Like to Be Proven Wrong.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Haven't had the chance to vote yet and I do not seem to find the e-mail with the proxy vote neither from TD nor from Scottrade. How else can I cast my vote for the "fantastic job" they are doing for the PPS? THanks in advance for your reply and GLTAL! CB

      Sentiment: Hold

    • buuuuump.

    • Looks like it is going to be a fight.

    • elahens@gmail.com elahens Jun 9, 2013 4:03 PM Flag

      It is a binary OPTION that they did not have before:
      A) use the cash earned to pay down debt without issuing more shares.
      B) issue more shares(per annal agenda) to 1)pay down $4M 2) get $4m in cash
      AND 3) now use additional cash on-hand to open Madera.

      Wih tthe understanding that we get all 3 action of Option B,
      I vote for ooption B.

      But Option A is not bad either. We can live with Madera opening up later on.

      It is a nice problem to have vs heading into a 3Q-4Q with negative margins.
      C'est la vie ( that is life)!!!

    • I don't think the margins right now are so great as to think they are making a ton of money. Margins are positive. And when the margins turned positive, it isn't as if PEIX immediately started turning a profit, there is quite a lag. So they probably have been net positive since the first of May or so.

      If they were confident about the margins moving forward, they could have used up some of their inventory and freed up money to avoid dilution for the payment. But don't longs want Madera to open? That requires some money that doesn't exist!

    • This company only knows how to lose money.
      It is 100% guaranteed that they will raise money in the short terms and screw over the longs.

      Guru

      Sentiment: Strong Sell

    • Sorry I Miss Spelled Possible,but You Get The Picture

      Almost $10M a Month,and 3 months this Qaurter

      They have Enough to Do It

      think 10 to 15 cents per gallon x 40 million

      • 1 Reply to misskellyfitz
      • U.S. Equities
        Pacific Ethanol Pops After Paying Down Debt
        11.16.11, 02:40 PM EST
        Shares get boost on higher than usual volume.

        Pacific Ethanol shares are getting a boost today, with higher than usual trading volume, following the company's announcement today that it has retired some debt.

        The marketer and producer of low-carbon renewable fuels in the Western US said it has retired in full its $35 million senior convertible notes.

        The company said it made its final payment in shares of its common stock, and as of yesterday had about 77.5 million common shares outstanding.

        In addition to serving integrated oil companies and gasoline marketers who blend ethanol into gasoline, Pacific Ethanol ( PEIX - news - people ) provides transportation, storage and delivery of ethanol in the Western US, and also sells ethanol co-products, including wet distillers grain, a nutritional animal feed. Rivals include Archer Daniels Midland ( ADM - news - people ) and BioFuel Energy ( BIOF - news - people ) .

        ( the Reason I Say this is,They have Done the Right thing before.So It's Not Impossible. and they Did it When they Made Money in Q3 2011 )

    • If they pay the dept without diluting will be an amazing news for us and will be the first decision they take in a wild for shareholder. But.....
      They have planned to increase their commun share from 10.9mm to 11.9mm in 2013. They included this point in their meeting agenda on june the 18th. This agenda was written in march. Who knows but they probably found the investor already who will buy those shares for a friend price (expect 4$ a piece) specially when you consider the book value is 14$. They can explain the need of the dilution now should they leave that money on the table? Not their style. They will take it for sure and if they make money in this quarter like you said missk, they will keep it to (like jack mentionned) pay dept or other things like executive compensation.
      If they don't dilute, that would be a BIG BIG BIG suprised.

    • Let us just presume that you are correct, that they are having a bang-up earnings qtr. The 8k will STILL show negative numbers attributable to the common.

      And we STILL won't get any details in that document.

      It is MY presumption that all cash earnings goes to debt retirement, not just that puny $4 mm coming due.

      And a 1 mm share dilution means 10%, or lopping off $.40 from the pps. (I think in pre-r/s numbers...so our $.275 [at rs] pps becomes $.247, and I am so very sorry MK - but just 6 months ago mgmt. was pushing dilutions out the door at $.39! WITH warrants at $.42, $.52, $.62.

      But wait! It just DID that! And the MARKET CAP still does not reflect basic value.

      And IR hasn't drummed up any NEW institutionals.

      Still no pop...and there won't be one if we have to wait for a positive quarterly report because there won't be one till the debt is ZERO.

      jm

    • A quick glance looks like they could halt the closing of that second Tranche.
      Don't mind me... I just fell off my rocker is all.

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