We have recently installed corn oil extraction equipment at our One Earth and NuGen facilities and expect to begin generating revenues from corn oil sales in the first half of fiscal year 2012. SEE HERE p. 7 (try it now)
SkunK
Thanks to Anon/Nycdream poster previous blog for the tip on the 10-K. Blog History on REX here. Remember Slash recently made a decent argument that REX may be a GERS customer.
Both plants put in ICM systems. No license purchased. Yields will be low due the poor technology choice. Good luck to all.
ReplyDeleteNot saying you are wrong but how do you know?
ReplyDeleteWe have made a previous contact with REX officials, several weeks ago. They said they would answer this ($2,00,000 yearly GERS revenue) question after their 10K was out. We have recontacted them this morning to get that answer.
ReplyDeleteTo me, this stood out in the REX 10K.
ReplyDelete"..immediately prior to the production of distillers grains."
Now where have we heard this before? From our largest customer, GPRE.
Quote from REX's 10K...
"At certain of our plants, we extract and sell non-edible corn oil immediately prior to the production of distillers grains."
http://www.sec.gov/Archives/edgar/data/744187/000093041312002109/c69053_10k.htm
This is the exact same wording GPRE used to describe COES.
"The corn oil systems are designed to extract non-edible corn oil...immediately prior to production of distillers grains."
GPRE 10K
http://www.sec.gov/Archives/edgar/data/1309402/000119312512067531/d301790d10k.htm
I believe this confirms that REX's COES are clearly not the infringing ICM knock-offs. Greenshift's state of the art systems are the best in the industry and everyone knows it. They're the only systems that obtain the yields they do, without the use of costly chemicals. Greenshift's systems are the best in the industry, period. Now we have another example of REX using the same wording as GERS' other customers.
I say, welcome aboard REX, you went with the best and will make more money because of it.
Good Luck To All!$!$!$!$
Note to Gerry on I-Hub. Send me the court doc in an email and I will post it here. Doc 135 does not compute for that time frame. Thanks, SkunK
ReplyDeleteskunkhunter13@gmail.com
Skunk -- your SEE HERE link does not work for me ???
ReplyDeleteHere's a quick recap of revenue growth...
ReplyDeleteQ209
$1.167M
Q309
$927K
Q409
$1M
Q110
$1.27M
Q210
$2M
Q310
$1.7M
Q410
$2.2M
Q111
$2.8M
Q211(corn oil $3.60)
$3.1M
As you can see, revenues fluctuate with the price of corn oil.
In Q311(corn oil $3.60), the $6.3M in revenue included a one time gain of $2.5M related to extinguishment of debt. Without this, Q3 revenues were $3.8. If You'll notice, the Q3 said corn oil was $2.80 and I saw others reporting it went as low as $2.40. I believe this refers to the current price(Q4) at the time of the statement. For example, the 10K stated corn oil was back up to $3.40, which is the price for Q112, not Q411. My point is that corn oil was down, on average, 30% in Q4. $3.8 X 30% is over a million bucks. which puts us right in line with the Q4 revenues of $2.8. There were no missing revenues, the price of corn oil took a big dip and we were warned about it in Q3's report when it stated the current price of $2.80. Also, Q4 is when our customers shut their plants down for maintenance. GPRE reported an unexpected breakdown at one of their largest plants. That being said, even though corn oil dropped, Q4 revenues were about the same as Q3's when you consider the deferred revenue of over $1M that's coming down the pipeline in Q112. The good news is, corn oil moved much higher in Q112 as was already reported in the 10K ($3.40). Actually, I believe it's now in the $3.65 range.
Q4 had little to no contribution from Sunoco, BIOF, REX, or ANDE's two new plants(partnerships with Marathon Oil). Q112 will show contributions from these customers with much higher corn oil prices. The Q112 report, in a few weeks, should be a blow-out.
It speaks volumes when a company that has seen first hand, the troubles that ICM's systems cause, has decided to go with Greenshift.
So I think the one time gain of $2.5M, the maintenance/break down of plants, and the dip in corn oil prices skewed the numbers a bit. This next report coming out shortly will be much improved, IMO.
Good Luck To All!$!$!$!$
I ask that everyone not pat attention or respond to nobody at all.
ReplyDeleteIt's clear of who he is and what he is doing.
Just ignore and do not even get into any type of dialogue with nobody.
Slash,
ReplyDeleteHow does that explain the difference between just GPRE corn oil revenue in Q4 and that reported by GERS? If there is not a lag in the reporting of revenue how can GERS revenue be below 20% of just GPRE corn oil revenue for the same quarter?
Also from the 10K, key words "several of our licensees"
ReplyDeleteQ411
"We were awarded contracts to design, build and install extraction systems for several of our licensees after extensive due diligence and third party review, including a state of the art new corn oil recovery facility in Fulton, New York for Sunoco, Inc."
Q311
"We were awarded contracts to design, build and install extraction systems for our licensees after extensive due diligence and third party review, including a state of the art new corn oil recovery facility for Sunoco, Inc."
It changed from what was stated in the Q3 report with the addition of "several". They were awarded contracts to build Alfa-Laval systems for "several licensees". We all know several's more than two. Sunoco's obviously one, Advanced BioEnergy had GERS install Alfa-Laval. I believe REX's non chemical using systems are the third licensee that GERS speaks of to make up the "several".
GPRE makes up a substantial portion of deferred revenue/accounts receivable. Deferred revenue increased about $900k ($300k to $1.2M) in the report. Accounts receivable is roughly $2M. Inventories jumped by about a miilion and I'm guessing this is equipment for Advanced BioEnergys second plant which is finishing up construction now. Just because GPRE sells the oil, doesn't mean GERS gets paid right then and there. GERS doesn't get paid until it's shipped/delievered, and the customer pays the billed invoice. When that happens, GPRE's revenue in accounts receivable/deferred revenue will be recognized as revenue in Q112. These revenues in the pipeline are larger than revenues reported in Q4. Big growth coming in the next report, IMO.
Good Luck To All!$!$!$
Last time I checked Rex was part owner in Big River Ethanol. I doubt that they would purchase a royality based at license 12% or so only to fighting Greenshift on the other hand and paying legal bills. Just a thought.
ReplyDeletelike Slash said they dont control Big River own only 10 percent besides Icms payen the legal fee so its bad news for them when customer turned on them
ReplyDeleteAfter doing some DD found Abengoa said in 2008 they put in corn oil extraction at york and Ravenna NE am trying to post link but if you google abengoa corn oil 2008 York should find the Pdf file
ReplyDeleteGPRE said their big focus right now is increasing ethanol yields per bushel and that they have several projects focused on this right now. They said as soon as one hits, they'll let us now so it sounds like they're close to announcing something.
ReplyDeleteWhat I would like to see is gasification of de-oiled DDGS. Producers could pull all the oil out and not have to worry about profat compliance. They could then produce more ethanol from the DDGS with gasification, a process that Greenshift's partly owned Zeropoint holds key patents on. They would also have a fertilizer by-product, biochar.
In the near future, the industry will hit what's called the feed wall. Only so much DDGS can be fed to animals so new uses need to be developed to counter excessive supply. Especially with E-15 being rolled out. I read that turning DDGS into more ethanol can bump yields to more than 3 gallons a bushel.
Another project GPRE may have under way is increasing yields with the highly efficient, patented, Tornado Generator. Bypassing the hammermills would cut energy costs. Also, the TG breaks corn down into smaller microns with more surface area exposed. This increases the available startch and greatly improves ethanol yields. GPRE has a history of thinking outside the box and being the first mover on things. I highly suspect that one or more of their ethanol yield projects is tied to Greenshift's other technologies. If it works out, GERS will get royalty's on billions of gallons of ethanol instead of just tens of millions of gallons of corn oil.
Greenshift's repeated statement that our customers our reviewing our other technologies reinforces my thinking here.
Advanced BioEnergy flat-out said they are looking at Greenshift's other technologies. BIOF has also indicated they're working on something in this regard.
Good Luck To All!$!$
News, or no news -- the next BIG thing is the PPS going to 20 cents and not retreating. What other THINGS really matter?
ReplyDeleteNobody, I've been trying to help you gain some respect why? Because while you may find this all very amusing I don't. Your making a lot of enemies, that's not good and while you still may be amused. I'm actually concerned for your safety! I don't like violence and don't condone it in anyway and sure I don't ever agree with you, but as a person from one person to another let me get to the point I guess what I'm trying to say is don't forget about who you may be making angry. There are some wealthy investors that could be invested in gers and could be crazy! They may have the know how to find you or your computer or the money to pay someone who does. Well just think about it !
ReplyDeleteNobody,
ReplyDeletePlease correct tthe spelling of cannot (cannpt) on Ihub. We all know how you have issues for those with bad spelling or grammar.
Thanks.
OOPS, I will be more careful and proof read closer. As for wealthy investors in GERS, at this time that is an oxymoron. Total don't take out your frustration on how the PPS is performing on objective posters.
ReplyDeleteNobody, you don't have to worry about my health, I'm well trained never alone and I have a concealed weapons permit. To top that all off I'm half redneck and half city slicker lol. Thanks for your concern though.
ReplyDeleteGERS Customers Make More Money Even After Royalty
ReplyDeleteICM can not compete so they tried to run GERS out of business, it failed. GERS' other technologies are a big threat to ICM and would make some of what ICM has to offer, obsolete. ICM has seen sales of dryers soften, thanks to GERS' corn oil tech. Hammermills are next on the list of ICM's decaying technology. The patented Tornado Generator will make a hammermill pointless.
I've never heard one good thing about ICM's knock-off COES. I've only heard bad things from frusterated customers that are locked into litigation. Sure they make good ethanol plants, but they dropped the ball on COES.
The costly chemicals and low yields are why ICM can't compete. That's why the entire industry knows Greenshift's systems are the best.
Due to the fact that Greenshift's systems are the only ones in the industry that obtain the yields they do without the use of costly chemicals the industry is switching to the savings.
Greenshift's customers make more money even after the royalty.
I would love to see materials that GERS uses for marketing. I agree completely with the superiority and cost effectiveness of GERS technology. That is why I am here. I have a meeting in June where I will inquire about these materials and if successful, I will scan and post them. I am also hoping to hear that this round of litigation will be the last for awhile and that GERS focus will be on competing for business with their better products than forcing potential customers through litigation to come to GERS’ COES.
ReplyDeleteTotal you "sound" like a lean mean fighting machine. Is your pappa bigger than my pappa too?
From what I gather, I think Nobody's days are numbered.
ReplyDeleteR.I.P!
In case anyone is interested DHOLE knows my West Coast address.
ReplyDeleteNobody,
ReplyDeletePlease correct the spelling of volunteer (volunter) on Ihub. We all know how you have issues for those with bad spelling or grammar.
Thanks.
Total,
ReplyDeleteYour post at 2.43pm on 11th April is possibly the silliest I've read in a long time.
Neil I'm going to assume you meant 12:43 and not 2.43 and I don't know what part you think is so silly. Do you think its silly to care for another persons welfare? Well if you do I suppose it is. But where I come from we all may argue and fuss but come 5pm we are all down at the bar buying each other drinks. Now while there may be very few places like here left in the world that's the way we are! And I do enough travelling to know I have found no place like it. This is why I have concern for nobody. And while some may think I hate them, I've never hated anyone. Just because I have unfavorable words for some doesn't mean I wouldn't buy them a beer at quiting time. Not being this way seems even more foolish to me.
ReplyDeleteFrom the REX 10K we know that One Earth Energy, LLC is 74% owned by REX.
ReplyDeleteFrom Steve Kelly:
spk@oneearthenergy.com
Phone 217.784.5321
Fax 217.784.5332
Address
202 N. Jordan Dr.
Gibson City, IL 60936
We now have the answer to the question about REX and GERS. His answer to the question: "Whose corn oil extraction technology
OneEarth is using"? His response was "ICM".
This speculation is now over.
Advanced BioEnergy Investor Presentation...
ReplyDeletehttp://www.advancedbioenergy.com/documents/CompanyUpdate-March162012AnnualMeetingPresentation.pdf
Good Luck To All!$!$
Slash,
ReplyDeleteSeveral of us would like to know how you can post seven minutes after I have posted that your major speculation about REX is wrong and you ignore that fact and continue to promote GERS with another factoid, without comment? We needs facts here, not impressions and OMG's, and blind rage. GERS is in a very critical stage of its existence; too many unrequited expectations are not helpful, but I have been saying this for a while.
There is no need to answer this insolent post, Slash.
ReplyDeleteIt is perfectly normal in the civilized world that you pose a thought and if some dispute that, you consider your answer or not answer at all if there is nothing to answer.
If anybody believes that this " His answer to the question: "Whose corn oil extraction technology
OneEarth is using"? His response was "ICM"." is only in one way interpret-able then it must be a nobody
All Rex plants are Icm technology so are Gpre. Icm installed Rex. Icm installed Gpre as well. Rex The question is did they use Icm to install an license with Greenshift like Gpre?
ReplyDeleteNobody - GET A LIFE!
ReplyDeleteWe all feel bad for your wife...if she really does exist!
i didnt think gers still sold equipment.
ReplyDeletethought they streamlined to technology licensing.
Instead of babbling, I have posted the plant manager's name and email, inquire for yourself. I had hoped to hear otherwise, but I can deal with the reality. My documentation is always provided unlike all the Anonys that infest this blog. And death threats do not rise to the level of insolence?
ReplyDeleteyour QnA to vague not clear whats true or not
ReplyDeleteNobody,nobody believes anything you say. Or wait anybody believes nothing nobody says. No that's not it either how about this somebody doesn't believe nobody. No no that's not it either. Ah who cares we are talking about nobody anyways nobody cares. Bleep bleep bleep if this keeps up ill sound as dumb as nobody anybody somebody peabody you get what I'm saying here
ReplyDeleteGee a simple call to the number above would suffice. Do you prefer ranting and raving to verifying?
ReplyDeleteI called got sent to vm left message nobody returned my call
ReplyDelete