The GidDy uP Kid
13 years ago
01/20/11; CEO ratifies an Executive Resolution granting Sentinel Renewable Energies S.C. Inc. and its’ Parent Company, Syndication Inc. the authority to officially disclose, at their discretion, the terms of our Company’s $1 Million Debt Investment into their Company, the 20% Purchase of SRE S.C., and the 2 Consulting Agreements, (the Capital Market and Acquisition Structure Agreement and the SRE S.C. Inc., Plant Operations Oversight Agreement).
SAE
13 years ago
The 73-27 vote may ultimately be symbolic since the White House has vowed not to repeal ethanol subsidies fully and the bill the repeal language is attached to is not expected to make it into law.
Senate vote marks start of end for ethanol subsidies
WASHINGTON (Reuters) – The Senate voted overwhelmingly on Thursday to eliminate billions of dollars in support for the U.S. ethanol industry, sending a strong message that the era of big taxpayer support for biofuels is ending.
The 73-27 vote may ultimately be symbolic since the White House has vowed not to repeal ethanol subsidies fully and the bill the repeal language is attached to is not expected to make it into law. But it underscores the growing desperation to find savings in a budget crisis that is forcing both sides of the aisle to consider sacrificing once-sacred government programs.
"Ending this wasteful handout would ensure taxpayers no longer subsidize the already profitable corn ethanol industry," Democratic Senator Frank Lautenberg said.
The increasingly hostile attitude toward federal ethanol support has added fuel to a steep fall this week in the price of corn, from which most U.S. ethanol is made.
The Senate vote shows the odds are diminishing that the 45-cent-a-gallon subsidy the government gives refiners and the 54-cent-per-gallon tariff on imported ethanol -- both targeted in Thursday's vote -- will be extended at current rates beyond their scheduled expiration at the end of this year.
The Senate measure still faces a long road to becoming final. The White House issued a statement saying it was against a full repeal of ethanol subsidies, indicating it could use its veto power if the amendment continued to advance in Congress.
"We need reforms and a smarter biofuels program, but simply cutting off support for the industry isn't the right approach," Agriculture Secretary Tom Vilsack said.
The strong vote in favor of eliminating the $6 billion a year in ethanol subsidies reflects the push by both parties to rein in the government's huge deficit.
"The way we get out of trouble as a nation is a couple of billions of dollars at a time," said Republican Senator Tom Coburn, who co-sponsored the ethanol amendment.
The Senate vote also comes as criticism mounts globally over subsidies for corn-based ethanol, blamed by some for raising food costs.
Last week, the World Bank and other international organizations called on governments to stop their ethanol subsidies because of concerns they were driving up food prices.
While more ethanol is good for corn farmers, U.S. livestock producers argue their feeding costs have gone up, which has raised food prices for consumers.
CORN PRICE COLLAPSE
While a loss of subsidies may hurt profits for companies such as Valero and Marathon Oil that blend ethanol into gasoline, it would be unlikely to cause a large or sudden fall in ethanol output.
Fuel companies must still blend a minimum of 12.6 billion gallons of ethanol into the gasoline pool this year under the federal Renewable Fuels Standard. Current output is running at less than 10 percent above that rate.
But the prospect of an even modest reduction in demand has helped drive Chicago corn prices more than 12 percent lower this week, pulling them down from a record near $8 a bushel a week ago.
Traders are betting on reduced demand from ethanol makers whose profit margins are being squeezed by near-record corn costs and falling gasoline prices, in addition to the longer-term risk of reduced government support.
"This helps explain continued fund liquidation in the feed-grains today, as the continued record prices keep pressure on government to lower food prices," said analyst Mike Zuzolo of Global Commodity Analytics & Consulting in Lafayette, Indiana.
The Brazilian Sugarcane Industry Association welcomed the Senate vote. "Allowing other alternative fuels like sugarcane ethanol to compete fairly in the U.S. will save Americans money, cut dependence on Middle East oil and improve the environment," the trade group said.
The U.S. Renewable Fuels Association trade group called the vote shortsighted and said it didn't make sense given that the Senate voted less than a month ago to keep billions of dollars in tax breaks for big oil companies that are making record profits.
Senate Majority Leader Harry Reid asked his Republican colleagues who voted down the ethanol subsidies also to end government financial breaks for Big Oil.
U.S. lawmakers are working on other compromise measures to scale back ethanol subsidies.
Republican Senator Charles Grassley and fellow Democrat Kent Conrad have introduced legislation to continue the blender tax credit and import tariff at much lower rates for five years.
On Tuesday, the Senate fell far short of the 60 votes needed that would have stripped the industry of federal incentives.
The ethanol subsidy amendment on Thursday from Coburn and Democratic Senator Dianne Feinstein will be tacked on to an underlying economic development bill, which faces a difficult time passing the Senate.
Meanwhile, the House of Representatives voted 283-128 on Thursday to prevent Agriculture Department funding for tanks and blender pumps that the ethanol industry wants so stations can sell gasoline with higher ethanol blend rates.
The Senate took the opposite view, voting against a separate amendment that would have blocked federal funding for such ethanol infrastructure.
(Editing by Lisa Shumaker, Russell Blinch and Dale Hudson)
http://news.yahoo.com/s/nm/us_usa_senate_ethanol
SAE
13 years ago
It is unfortunate that the CEO of BEEN, Brent Riddle is not providing updates to stockholders on the status of any South Carolina warehouse, which I read into as no progress to date.
I hope that he keeps his word on providing SYNJ stockholders
their dividend shares!
Instead of building from the ground up after either purchasing
or leasing an empty warehouse, why not purchase a complete ethanol facility operation at public auction? GLTUA, Stockinvestor
SRE S.C. has developed strong ties in the South Carolina business community, a long term attitude and reasonable cash to lay the ground work to start a bio-diesel plant. We intend to provide financing and work as a team to identify assets that meet the requirements of their project and work together to finance or reject those capital commitments. If a prospective asset falls short of the required specs then we will adjust the bid. If the bid is rejected then the team simply moves forward until a suitable alternative is identified. The project is being built from the ground up in an industry that itself is in its infancy.
PUBLIC AUCTIONSouth Louisiana Ethanol Facility
Offers Considered for Complete Operations Prior to Auction
Held on June 30th
BY ORDER OF LOUISIANA BANKRUPTCY COURT CASE # 09-12676- ETHANOL OPERATIONS EQUIPMENT & REAL ESTATE INCLUDING +/- 49 ACRES & OVER 458 LOTS TO BE OFFERED
Location: 278 East Ravenna Road, Jesuit Bend, LA 70037
An onsite and online auction is scheduled for June 30th. The plant including +/- 49 acres, with dock building capabilities on the Mississippi River, as well as half the rights of adjoining 4.5 acres on the river front property (1,040 foot river front property), 129,000 sq. ft. of buildings and structures and all equipment will be available for purchase as an entirety until June 9th at 5:00 CDT. Interested parties are encouraged to research this availability and submit bids to Schneider Industries prior to June 9th 2011 at 5:00 CDT. After this time, the real estate, land and equipment package in its entirety will no longer be available and all assets will be sold separately and individually at the auction.
CLICK HERE TO VIEW:
Complete Equipment Listings, Details,
Pictures and Internet Bidding Links
www.schneiderind.com
Contact Us: (314) 863-7711
Schneider Industries
3010 Locust Street, Suite 103
St. Louis, MO 63103
Phone 314-863-7711
Fax 314-534-0758
info@schneiderind.com
Oficina para México y América Latina
Mexico/Latin America Office
Loma Alta 2435 A, Col. Loma Larga,
Monterrey, NL CP 64710 Mexico
Tel: +52 (55) 4624-0218, (81) 8342-9674, (181) 1611 5882
dilceiam@schneiderind.com
If you have or know of surplus equipment, please contact
(314) 863-7711 to discuss your situation or send us an e-mail:
info@schneiderind.com
Unsubscribe me from this mailing list
Schneider Industries Auction Firm # AB-341
Larry Garner Auctioneer License # 0363
The GidDy uP Kid
13 years ago
Since they have %10 of BEEN
219,200,000 X .25 = 54,800,000, so they would only have %10 of total authorized BEEN shares... which is 2,192,000,000
its 54,800,000 divvy shares issued of SYNJs %10 holding of BEEN...
SAE
13 years ago
Tallstahl or other Moderator,
Can you find out how many shares (or percentage to multiply by) we will get of BEEN/BECI common stock for every million shares of SYNJ stock (SRE S.C.) that we own as of today? TIA, Stockinvestor
In exchange for the 20% interest of SRE S.C., BECI provided, among other concessions, a $1,000,000 conditional draw down debenture and 10% of BECI's Common Stock.
SAE
13 years ago
Tallstahl,
I agree with what you wrote based on these two paragraphs from today's press release, but the proof with be in what is accomplished, imo. Somebody in every company needs to be serious about the burn rate of limited capital! In the first paragraph it seems that there will be some necessary control and rate of interest based on what money is spent on, ie. items that can be sold if needed/collateral compared to eating through precious financing with salaries and other expenses...Also it looks like BEEN is diversified as a business, but sees some value in teaming up with SYNJ for the South Carolina opportunity, imo. Stockinvestor
Both the conversion and interest rate will adjust based on a schedule related to the categorization and risk of the use of proceeds. For example, assets that can be collateralized, (plant, equipment, land), will bear a lower rate of interest and conversion ratio. Whereas, higher risk draws approved for the purpose of working capital and pay roll will fall into the higher rates of interest and conversion ratios. In conjunction with the $1 million debenture, BECI was also granted an oversight and disclosure agreement affording it strict rights and controls over the use of proceeds.
It is true that BECI's interests are primarily in traditional fossil fuel industries and we are currently engaged in negotiations for the purchase of multiple fossil fuel based business properties. However, we believe the future of the energy industry is shifting toward the renewable energy markets and the SRE S.C investment is a great first step in that direction and complements our overall energy development pursuits."
SAE
13 years ago
Better Environment Concepts Inc. Purchases 20% Interest in Sentinel Renewable Energy S.C., a Bio-Diesel Manufacturing Subsidiary
Today : Monday 28 March 2011
Better Environment Concepts Inc., (Pink Sheets:BEEN), announced that the CEO executed a Stock Purchase Agreement, (SPA), to purchase 20% of Sentinel Renewable Energy Inc. (SRE S.C.), a Bio-Diesel Manufacturing project located in South Carolina. SRE S.C. is a subsidiary of Syndication Inc. a publicly traded company trading over the counter under the symbol (Pink Sheets:SYNJ). In exchange for the 20% interest of SRE S.C., BECI provided, among other concessions, a $1,000,000 conditional draw down debenture and 10% of BECI's Common Stock. Conditional terms of the debenture include a conversion feature allowing BECI to convert its debenture into 7% to 11% of Syndication's Restricted Common Stock. The debenture will bear an interest rate floating between Prime + 1% and Prime + 3%. Both the conversion and interest rate will adjust based on a schedule related to the categorization and risk of the use of proceeds. For example, assets that can be collateralized, (plant, equipment, land), will bear a lower rate of interest and conversion ratio. Whereas, higher risk draws approved for the purpose of working capital and pay roll will fall into the higher rates of interest and conversion ratios. In conjunction with the $1 million debenture, BECI was also granted an oversight and disclosure agreement affording it strict rights and controls over the use of proceeds.
When asked about the acquisition, Brent Riddle, CEO of Better Environment Concepts Inc., (BECI), stated that "he was very excited about the investment into SRE S.C. It is true that BECI's interests are primarily in traditional fossil fuel industries and we are currently engaged in negotiations for the purchase of multiple fossil fuel based business properties. However, we believe the future of the energy industry is shifting toward the renewable energy markets and the SRE S.C investment is a great first step in that direction and complements our overall energy development pursuits."
SRE S.C. has developed strong ties in the South Carolina business community, a long term attitude and reasonable cash to lay the ground work to start a bio-diesel plant. We intend to provide financing and work as a team to identify assets that meet the requirements of their project and work together to finance or reject those capital commitments. If a prospective asset falls short of the required specs then we will adjust the bid. If the bid is rejected then the team simply moves forward until a suitable alternative is identified. The project is being built from the ground up in an industry that itself is in its infancy. In our opinion, two years in development is typical in these circumstances. At this stage, correctly choosing a point of entry is more important than making moves for the sake of their short term influence on the stock price. There is enough time to be careful and the end game is all that matters. There still remains an inherent resistance in this country and perhaps worldwide toward the development of alternative energy markets. We are confident the tide is changing but, like most tides the change is slow. We are in for the long run and this relationship allows us to remain focused on our traditional fossil fuel interest while having a partner that is concentrating on the development of our alternative energy interest.
The Company reported further that the CEO, executed additional "Executive Resolutions" to Declare a 3% Restricted Common Stock Dividend. The RECORD DATE of the dividend will be May 1st, 2011. The Company advises shareholders to contact their brokerage house to determine their individual X Dividend Date. The official "Executive Resolution" declared that the Company will issue a 3% Restricted Common Stock Dividend of the Company's .0001 Par value Common.
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products, which we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
CONTACT: Better Environment Concepts Inc.
Brent Riddle
Phone # 1-800-939-6738
Fax # Same as regular phone
For all mail correspondence:
110 Wall Street, 11th Floor
NY, NY 10005
http://ih.advfn.com/p.php?pid=nmona&article=47051244
Doofenshmirtz Evil Inc
13 years ago
Syndication Inc. Declares Combo Stock Dividend; 1.25% SYNJ.PK & 25% of BEEN.PK Holdings; Record Date of March 31st 2011
Date : 02/15/2011 @ 8:52AM
Source : GlobeNewswire Inc.
Stock : Syndication Inc. (SYNJ)
Quote : 0.0001 0.0 (0.00%) @ 7:44AM
Syndication Inc. Declares Combo Stock Dividend; 1.25% SYNJ.PK & 25% of BEEN.PK Holdings; Record Date of March 31st 2011
Syndication (USOTC:SYNJ)
Intraday Stock Chart
Today : Tuesday 15 February 2011
Syndication Inc., (Pink Sheets:SYNJ), Board Declares a Combination Restricted Common Stock Dividend. The RECORD DATE of the dividend will be March 31st, 2011. The Company advises shareholders to contact their brokerage house to determine their individual X Dividend Date. Normally 3-4 days prior to the Record Date, the X Dividend date can fluctuate between houses for a myriad of reasons and shareholders must own Syndication Stock on the X Dividend Date in order to avail themselves of the issuance. The issuance will include a 1.25% Restricted Common Stock Dividend of the Company's .0001 Par value Common and a 25% distribution of the Company's 10% holdings in Better Environment Concepts Inc., (Pink Sheets:BEEN) trading on the Pink Sheets OTCBB.
It was further resolved by the Board that the Company will adhere to a strict dividend issuance schedule and authorized the CEO to begin the process of releasing the same dividend for the 2nd Quarter 2011 with a "Declaration Date" on or about April 2nd 2011. The Board also took further steps to enhance the Company's Dividend program by creating an affordable service that would enable our shareholders to have the restrictive legends on their dividend shares lifted. It is anticipated that the charge for the service will be approximately $50.00. The Board expects to launch the service in coordination with our transfer agent within the next week.
"The dividend policy of the Company is designed to increase equity valuation, enhance the potential for equity investment, discourage short trading activity and, most importantly foster a longer term investor attitude. As the growth in valuation of the Company becomes realized the dividends will become a strong attraction to new shareholders. I also recognize that our dividend policy is problematic to market makers holding short positions in our stock and I feel sure that this dividend issuance will cause real attention demands. However, I will not deny dividends to our shareholders because the ability of market makers trading our stock for the purpose of their own self profit becomes complicated," said the CEO of Syndication Inc.
The Board remains resolute to the execution of our business plan and the belief in our future. We believe that the dividends play an important role in the long term development of our stock valuation. In our opinion, they will become valuable both monetarily and as a recognized function of our Company culture. The pursuit of the alternative energy market is still in its embryonic stage and South Carolina is one of its frontiers. The State is poor and starving for corporate capital investment. We have cash and have closed on an additional million dollar investment. South Carolina is aggressively courting Syndication/SRE S.C. as a player in their business community. We are using their economic dearth as leverage to convert our business plan from chalk board to practical application. An interesting revelation fostered by the task is that it can be done much cheaper than originally anticipated and the opportunity for profits is far greater than originally forecasted. Over the next couple of days and weeks the Company expects to release details on the Lake City S.C. warehouse purchase and the status of the required roof replacement, legal issues related to the $5 million dollar loan escrow and the 2 Consulting Agreements with Better Environment Concepts Inc., (the Capital Market and Acquisition Structure Agreement and the SRE S.C. Inc., Plant Operations Oversight Agreement). News pending.
edegoc
13 years ago
I told you so, this is a giant, that apparently decide it to show up, and let people find out. Shares are very scarce somehow, it was a very strange day, we will keep track of the detail if we can, extremely tight lipped.They definetely have some strong chinese connection, plants in Taiwan, and another one, big one been build in Shangai, China. Its a definetely strong newcommer.It was flyng on air today, when suddenly someone drop a little bomb at the end, to keep it down, strange nevertheless.
News
Market Data
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
bud_fox
13 years ago
Rhodeo
13 years ago
