$BIOF and the Kernels of Fuel

What a run on $BIOF right? Nothin like following big brother $PEIX....step-brother that is. No relation. Well, that was fun. Made a quick $2k, left a lot on the table, but you cannot complain about profits.

Reading the recent 10-Q on that bad boy (found here), I discovered some interesting things...

To start, I found this kind of disturbing...

"During the three and nine months ended September 30, 2011, the Company recorded sales to Cargill representing 85% and 90%, respectively, of total net sales."

So...I honestly don't know 100%, but to me it sounds like Cargill is basically their backbone. Well, that wouldn't be such a bad thing...unless you consider this:

It seems Cargill, who was once a 10% owner of the company has dropped out of that rank...

Exactly 2,341,979 share have been dumped by Cargill in NOVEMBER alone, totaling 2,347,100 since July. He was issued 6,597,790 shares by BIOF to cover debts. Of those shares he has 4,255,811 left to sell. Of his total stock count, which according to Yahoo.com is 10,146,086 as of Nov. 14th is now 9,007,486 because of his sale of 1,138,600 shares on Nov 14th.

So he now has 9,007,486 shares left. Any idea how many will be left before the year is over?