Investing in Crap, part two
A short while ago I wrote this blog on EPG a company determined to turn cow poop into gold. Well actually into heat, methane fuel and fertilizer three of the forms gold arrives in today, all while solving a solid waste disposal problem for farms. At that time, 3/25, I bought some shares so I could say I had invested in the biggest pile of crap ever.
I bought at $4.17/ share, near the bottom of what appeared to be its trading range, then I was very happy to make a few bucks selling it a little over a month later on 5/15 at $4.85 thinking it would cycle back downward and just happy not to lose money for having a little fun.
Today it sits at $5.23/ share, having fallen a little from a recent high of $5.52. It still has not shown a dollar of earnings from its pooper power plant, but it does have them up and runny. They just received 65mil in loans from California to finance their next Crap Conversion Clusters.
Because they had no track record of making money from crap, and still do not, I turned up my nose and got out. So for now it seems when it comes to buying into bulls**t, I may have been to chickens**t.
It had been moving upward on increased volume since 5/13, and seems to have turned downward now.
So far they are producing methane from about 10,000 of the 98 million cows in the US. And believe it or not, they have competition.
Maybe they will show up on an episode of worlds worst jobs.