Benefits to BIOX Corporation (TSX:BX) from Passage of Recent Fiscal Cliff Legislation Discussed in Video on Investmentpitch.com
(Thomson Reuters ONE via COMTEX) --
Vancouver, British Columbia, January 10, 2013 - BIOX Corporation (TSX:BX) realizes immediate benefit from the recent passage of "fiscal cliff" legislation, with Mackie Research analyst Raveel Afzaal giving the company a new buy recommendation and a price target of $0.80.
As everyone knows, the U.S. House of Representatives recently approved the Senate's "fiscal cliff" bill. Part of this larger package was "The American Taxpayer Relief Act of 2012", which included a biodiesel tax incentive, reinstating the biodiesel tax incentive through to December 31, 2013 and also making the incentive retroactive to January 1, 2012.
One of the company's expected to receive immediate benefits from this Act is BIOX Corporation, a renewable energy company that currently owns and operates a 67 million litre per year biodiesel production facility in Hamilton, Ontario.
This video, describing the benefits to BIOX Corporation, is now available for viewing. If this link is not enabled, please visit www.investmentpitch.com and enter "BIOX" in the search box.
BIOX has an innovative, proprietary and patented production process that is capable of producing the highest quality, renewable, clean burning and biodegradable biodiesel fuel utilizing a variety of feedstocks - from pure seed oils to animal fats to recovered vegetable oils with no change to the production process.
"The passage of this legislation is significant to BIOX as the retroactive clause allows us to recognize approximately Canadian $7 million in contingent revenue on product sold during calendar 2012, which will strengthen our earnings and cash position as part of the fiscal Q2 2013 reporting period. Extending the tax incentive through 2013 also allows us to capture additional value on product sold in the U.S. market" stated Kevin Norton, CEO of BIOX Corp.
Analyst Raveel Afzaal with Mackie Research stated, "While we approach business models that are dependent of government subsidies with caution, the impact of the announcement on BIOX's profitability and expansion plans cannot be ignored. As a result, we are revising our recommendations to BUY and increasing our target price to $0.80 per share."
For more information, please visit the company's website www.BioxCorp.com or contact the company's CFO, Chris Clinning at 905-337-4970 or email email@example.com.
The company's investor relations are handled by Ross Marshall at TMX Equicom. He can be contacted at 416-815-0700 extension 238 or email firstname.lastname@example.org.
For more information about Mackie Research or to obtain their recent report on Biox Corporation, contact your nearest Mackie Research office. Their branches are listed on their website at www.mackieresearch.com.
InvestmentPitch.com specializes in producing short three minute videos based on research reports and significant news releases, as well as a producing a library of educational video modules that can be filmed by financial advisors for use as introductory and lead generation tools. The company also produces corporate video interviews and captures live presentations at investment conferences and other special venues.
Barry Morgan, CFO
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Source: InvestmentPitch via Thomson Reuters ONE
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