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Mission NewEnergy Limited (MNEL)
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Benzinga  Jan 30  Comment 
Mission NewEnergy Limited (NASDAQ: MNEL) shares dipped 27.63% to $1.10 at 10:05 am. MNEL's trailing-twelve-month revenue is $18.38 million. Cell Therapeutics Inc (NASDAQ: CTIC) shares lost 17.29% to $1.10. CTIC has voluntarily withdrawn its New...
Rodman & Renshaw Maintains Mission NewEnergy Market Perform
Benzinga  Sep 14  Comment 
Rodman & Renshaw maintained its Mission NewEnergy (NASDAQ: MNEL) Market Perform rating in a research report published today. In the report, Rodman & Renshaw states, "We believe multiple expansion for MNEL in the near term should be driven by...
Mission Buys Back Convertible Note Debt
Benzinga  Sep 13  Comment 
Mission NewEnergy Limited (Nasdaq: MNEL) announces the completion of the settlement of all outstanding Series One convertible notes for a cash payment of A$5 million. The Series One convertible notes represented an A$15 million liability due in...




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 This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company.
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Remi Cossart

Mission NewEnergy Limited (NASDAQ:MNEL) is an Australian based company which makes biodiesels to be sold wholesale. Mission NewEnergy has contracts with farmers in India who grow an inedible seed called Jatropha. These seeds are then crushed in Malaysia and turned into biodiesel fuels. This process can generate a gross margin when the price of crude oil is roughly above $52.15 per barrel ($1.25 per gallon).[1]

Mission NewEnergy expects that two main factors will increase the demand for bio fuels such as their biodiesel. First, the rising oil prices will push demand for alternate sources of energy and make biofuels financial possible. The increasing scarcity of oil will drive up oil prices. Second, the addition of U.S. Environmental Legislation will cause standard oil sources to become less viable. [2]

The company's initial public offering of stock on the NASDAQ occurred on April 19, 2011. The company offered 2.8M shares each for $9. The lead underwriters of the deal were Chardan Capital Markets and Rodman & Renshaw Capital (RODM).[3]

For the full year 2010 Mission NewEnergy reported a total revenue of $12.7M. The company suffered a net loss for the full year 2010 of $86M. As a result of consistent losses, the company has accumulated debt of approximately $70.52M at the time of its IPO.[4]

References

  1. ↑ MNEL F-1/A 2011 Prospectus Summary "Overview" pg 1
  2. ↑ MNEL F-1/A 2011 Prospectus Summary "Industry" pg 2-4
  3. ↑ Renaissance Capital - IPO Home "Mission NewEnergy prices IPO at $9" 20 April 2011
  4. ↑ MNEL F-1/A 2011 Prospectus Summary "SUMMARY CONSOLIDATED FINANCIAL AND OPERATING DATA" pg 9
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