what happened to sterling biofuels , page-2

Just been reading up on the ann report.

Market cap is only $4mil according to westpac based on the 10c close today.

Less than cash on hand value and the plant is worth nothing according to the market cap.

Could be a good punt, but need to do a little more research yet. Need to see what the palm oil prices are doing and learn a little about the sector. I think AAE is a similar company and this has had a spectacular fall also in the last 2 months. Feedstock prices too high?