Just checked back to see if other opinions on CC transcript. Just wanted to add that MD&A reveals SF, CWT, 13TONS, gave $2.6MM, $1.5MM and $0.9MM in the 3 months resp. (although there is a typo under latter in MD&A). Last two were as you know only part qtr but still doesn't help to reconcile Ker's comment even if one attempts a several ways to extropolate numbers.
Did find it interesting to read about inventories and biofuel and RIN's included therein.
Funny all 2MM $0.65 jan 2013 warrants were not taken up by holders but that leaves 10MM which are basically all in the money. Also about 6MM options out of 7MM are in the money, some of them very much so. I presume they are all vested... I doubt though that RLE could force them to be taken up to assist funding but the latter is the one fly in the ointment as far as I am concerned...just how much will they need? I reckon, everything else remaining unchanged, that $10MM would satisfy there short/near term needs and perhaps Dennis will get out his cheque book since he so much likes the interest rate we are paying on the $0.6MM!! I reckon secured debt might be a problem given the patents are not registered but why not an unsecured bank loan? They are giving up loads more shares in these 3 purchases plus what they still owe Dennis, so IMO anything is better than equity at these sp levels.
That will do for me.