A few may remember me from the ol' satw***s site (Hi Limit! ). Since I no longer wish to support said site, I thought I'd introduce myself here. I'm a SIRI long since 2008, bought my first shares for 3.08, watched 'em tumble to .05, started rebuying at .09 and now years later, I hold exactly half of my original target share count. It's been quite a ride. I'll probably hold the remaining shares forever - not much of a trader. I absolutely love the service and the stock.
Anyway, my other favorite stock other than SIRI is a little company based in Niagra Falls, NY. They turn waste plastic into spec fuel. Yes, they do!
And now I present...
The good: Spec fuel from waste plastic. Pristine, low sulfur spec fuel. Fully permitted in NY state. Validated by independent labs. 10 year supply contract with NYSE:RKT. ~90% margins. GREEN. More processors coming online. $8M recently raised for upcoming processor cluster in FL onsite at a Rock Tenn facility. Billionaire investors. ETC.
The bad: So, they did some stupid things in the past and got themselves sued by the SEC last year. Long story short, they just settled with civil penalties of ~$300K and no fraud whatsoever. New management in place. New management consists of former Rock Tenn executives, including their new CEO. (Kevin Rauber) No chance of a repeat offense.
The ugly: And not so ugly... I'm simply waiting for 4th quarter results of ~$1M which will essentially validate that Kevin Rauber's promise of a cash flow positive Q1 is achievable. It's a bold promise, but production has been increasing over time.
It's taken off a bit since the settlement announcement. Currently at $1.10. It sat in the .70-.80's forever so I see that as bottom support. Now the suit is out of the way, word is getting out - this very well may be the first company of its kind with an economically viable green process.
The best thing about this company is the environmental impact they will have. 92% of plastic goes to landfill, and the only way to dispose it is to bury it or burn it - until now. I'm banking on this one. Been watching it for a year and a half. I've bought from .66 all the way up to the mid 3's last year, with a .95 basis.
It's looking like we hit at least 1.20 tomorrow (tues 1/29/12) and possibly even 1.50 this week, though I do see some profit taking pulling it back a bit soon thereafter. Keep an eye on it, there will be plenty of trading opportunities.
I'll post updates as they happen, good or bad!