Highlights from the CC
CEO Rystrom--we are on track to grow first quarter revenue at Golden Ridge by nearly 70% from fourth quarter level. This after growing the fourth quarter nearly 90% from third quarter level.
Fifth, we are seeing cross-selling leverage from our system. For example, one fast-growing customer at Golden Ridge is the company that was a traditional RiceBran Technologies SRB derivative customer that sold packaged finished rice prior to us buying Golden Ridge, and our finished rice sales are now growing extremely rapidly with this company.
So when you think of this business last year at Golden Ridge, a lot of the pricing we are working off was at [$0.195, $0.19], $0.20 and recently we’ve been seeing pricing in the $0.24, $0.25, $0.26, $0.27, $0.28 range. So, we’re diversifying the customers in getting much higher pricing. We’ve had a couple of very large customers come in. Our products are now showing up in a couple of the largest retailers in the U.S. and we’ve also got involved with some of the biggest rice packagers in the U.S. So, we're pleased with the progress.
We’re making a great progress in getting Golden Ridge to become a major producer of stabilized RiceBran for us. Our target right now is to target large-scale shipments from Golden Ridge starting in May. We're hoping to kind of get into the middle of summer and be shipping 20, 25, 30 trucks a month of SRB from Golden Ridge
So, when you think about location, we make stabilized RiceBran in California, Louisiana, and now Arkansas. Arkansas by far is going to be our lowest cost.
We’re talking and looking right now at applications where single application opportunities can be 3 million, 5 million. We had a discussion today about an application that could be at upwards of 50 million pounds. So, we are seeing large markets, this is critical to get us there and get us positioned. The sales cycle is coming along. I have said this before, it’s always there.
CFO Mitchel>>>
As a result of the successful completion of an equity offering in December 2019, we ended the year with 8.4 million in cash and less than 1.9 million in short-term borrowings from our working capital facility.
We expect annual revenue in 2020 of approximately $37 million to $40 million.
We anticipate quarterly EBITDA losses will improve sequentially from fourth quarter 2019 level and transition to positive EBITDA in the second half of the year.
We expect over 50% of total revenue to be attributable to Golden Ridge and we look for sequential gains in revenue to continue throughout the year. We anticipate total SG&A for the year of less than 10 million with approximately 2.2 million to 2.4 million in depreciation and amortization and 1.1 million in total non-cash compensation.
Note -We expect over 50% of total revenue to be attributable to Golden Ridge, which means they do't plan on closing Ca or La mills, as I hope speculated.
https://seekingalpha.com/article/4334014-rice...art=single
CEO Rystrom--we are on track to grow first quarter revenue at Golden Ridge by nearly 70% from fourth quarter level. This after growing the fourth quarter nearly 90% from third quarter level.
Fifth, we are seeing cross-selling leverage from our system. For example, one fast-growing customer at Golden Ridge is the company that was a traditional RiceBran Technologies SRB derivative customer that sold packaged finished rice prior to us buying Golden Ridge, and our finished rice sales are now growing extremely rapidly with this company.
So when you think of this business last year at Golden Ridge, a lot of the pricing we are working off was at [$0.195, $0.19], $0.20 and recently we’ve been seeing pricing in the $0.24, $0.25, $0.26, $0.27, $0.28 range. So, we’re diversifying the customers in getting much higher pricing. We’ve had a couple of very large customers come in. Our products are now showing up in a couple of the largest retailers in the U.S. and we’ve also got involved with some of the biggest rice packagers in the U.S. So, we're pleased with the progress.
We’re making a great progress in getting Golden Ridge to become a major producer of stabilized RiceBran for us. Our target right now is to target large-scale shipments from Golden Ridge starting in May. We're hoping to kind of get into the middle of summer and be shipping 20, 25, 30 trucks a month of SRB from Golden Ridge
So, when you think about location, we make stabilized RiceBran in California, Louisiana, and now Arkansas. Arkansas by far is going to be our lowest cost.
We’re talking and looking right now at applications where single application opportunities can be 3 million, 5 million. We had a discussion today about an application that could be at upwards of 50 million pounds. So, we are seeing large markets, this is critical to get us there and get us positioned. The sales cycle is coming along. I have said this before, it’s always there.
CFO Mitchel>>>
As a result of the successful completion of an equity offering in December 2019, we ended the year with 8.4 million in cash and less than 1.9 million in short-term borrowings from our working capital facility.
We expect annual revenue in 2020 of approximately $37 million to $40 million.
We anticipate quarterly EBITDA losses will improve sequentially from fourth quarter 2019 level and transition to positive EBITDA in the second half of the year.
We expect over 50% of total revenue to be attributable to Golden Ridge and we look for sequential gains in revenue to continue throughout the year. We anticipate total SG&A for the year of less than 10 million with approximately 2.2 million to 2.4 million in depreciation and amortization and 1.1 million in total non-cash compensation.
Note -We expect over 50% of total revenue to be attributable to Golden Ridge, which means they do't plan on closing Ca or La mills, as I hope speculated.
https://seekingalpha.com/article/4334014-rice...art=single
