Nothing about the following blog post constitutes financial advice. It is being shared for informational purposes only. I am not a financial advisor, just a rocket enthusiast. Always perform your own due diligence and carefully consider risks before investing
Another week has passed, which should mean another week closer to startup of Origin 1, which is now expected to be coming sometime in the second quarter of this year. It could come as early as April, but let's not get ahead of ourselves. It's no wonder that there was a delay, as winter weather hampered Sarnia in December, and the construction crews had to put the tools down for a whole week for safety. With that in mind, it was not a surprise to see that the revenue estimate for 2023 was guided down to $40-60M, down from the $60M the company had projected back in 2021. That figures to be $30M per quarter, or $10M per month. So, by that math, the $40M low estimate would mean four months of O1 operating and pumping out product. In addition to plant commissioning, operational acceptance of utility systems and operator training are currently underway.
Upcoming Industry Conferences
Officially, the company has revealed its participation in two upcoming industry conferences:
- CERAWeek Innovation Agora Conference - March 6-10, 2023
- Advanced Bioeconomy Leadership Conference - March 22-24, 2023
Additionally, and not yet announced by the company, John Bissell will speak at the Rethinking Materials Innovation and Investment Summit in London on May 16th and 17th.
Rethinking Materials is an international innovation and investment summit that showcases and connects pioneering companies reimagining how materials in consumer products and packaging are produced, consumed, repurposed, and financed.
With a focus on materials innovation mitigating carbon emissions from textiles, packaging or durable goods industries, we’ll explore the technologies and material alternatives reducing our reliance on ‘incumbents’ such as petrochemical, virgin forest, and animal-based materials. The summit will examine barriers to the adoption and scale up of new materials, highlighting opportunities for greater collaboration and advancement across value chains.
These conferences show that the company is continuing to network, pitching to both investors and potential partners and customers alike. What's the saying? Any publicity is good publicity.
Complete Q4 2022 Earnings Call Available
If you tried to listen to the earnings call live, you no doubt were frustrated in missing the first 15 minutes of the presentation. If you haven't figured it out by now, the complete call is available for your listening pleasure on the company's investor page. No doubt a technical difficulty at the time, but frustrating nonetheless. You can bet your bottom dollar it won't happen again on the next earnings call. At least we can only hope.
Co-CEO Riley Sells 45k Shares, Pursuant to 10b5-1 Trading Plan
In a Form 4 filed on March 3rd, it was revealed that co-CEO Rich Riley sold 45k shares that were acquired via a stock option and planned to be sold, in accordance with a 10b5-1 trading plan dated June 10, 2022. In other words, the trade was pre-arranged nine months ago according to a scheduled plan to comply with insider trading regulations.
Institutional Position Updates
A myriad of positions were reported on March 1st, as reported by Fintel on their insider ownership page. Most funds kept their positions unchanged, with some reshuffling.
Weekly Chart
It looks pretty bearish here for the stock on the weekly view, as the price trades just above the 50-day moving average but consistently below the 200-day over the past five days.
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