DALLAS, March 23, 2010 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring Pacific Ethanol Inc. (Nasdaq:PEIX). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The full report is available at: http://www.investorsoup.com/lp/PEIX
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Pacific Ethanol Inc. (PEIX) produces and sells ethanol and its co-products, including wet distillers grain, and provides transportation, storage and delivery of ethanol through third-party service providers in the western United States. It supplies ethanol to its customers either from its own ethanol production facilities located within the regions it serves, or with ethanol procured in bulk from other producers. In May 2009, the Company announced that its subsidiaries have filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy code in the District of Delaware.
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In the report, the analyst notes:
"Total volume of ethanol sold decreased by 28.4 million gallons, or 44%, to 36.6 million gallons for the three months ended September 30, 2009, as compared to 65.0 million gallons for the same period in 2008. The decrease in sales volume is primarily due to a significant reduction in production at the Company's four ethanol facilities. Although it has one additional facility as compared to the same period in 2008, only one of its four facilities was producing ethanol during the three months ended September 30, 2009.
"PEIX earlier this month announced agreements designed to satisfy $34.7 million of the Company's outstanding debt, and to cure existing defaults on the debt. Socius CG II, Ltd. ("Socius") has entered into agreements with the holders of this debt pursuant to which Socius purchased $5.0 million of the aggregate amount of the debt, and then settled the resulting $5.0 million owed in exchange for free-trading shares of the Company's common stock."
To read the entire report visit: http://www.investorsoup.com/lp/PEIX
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