I agree. They indicated it in presentation; see slide 12, “Breakdown of Cost Per Gallon”, page 17 of the 8-K pdf.

http://jbii.ir.edgar-online.com/EFX_dll/EDGAR...ID=9200995

I’ll use their numbers:

Freight - 8%

P2O Processors & Plant Overhead - 9%; we were told in the CC that 9% = approx. 11 cents.

Feedstock procurement - 45%

Feedstock preprocessing - 38%

Using their numbers and some simple algebra brings me a total of $1.22.25/gal . That is considerably different than $2.09/gal for the year 2012.

If we don’t see numbers close to that for Q1, I want to know why, and they need to give good answers. We need to get away from the “$10/barrel cost” talk. It’s not true. I think they might be able to get their actual cost/gal to about $1.00 over time. Is that enough?

My calculations above, and the $2.09/gal cost for 2012, don’t include their losses as a start-up. These loses will only be covered tax wise IF they succeed.

To anybody who is looking at this, please add comments or criticism as you see it.