Boston, MA 02/10/2014 (wallstreetpr) – Cereplast Inc (OTCMKTS:CERP) is tumbling further down on the stock markets. The recent round of slide is in the region of 09.52%. However, the company saw decent amount of trading and saw above average shares of 19.53 million shares. By the end of closing the stock rate was $0.0038 while during the day the stocks saw the rate high of $0.0037 and low of $0.0045. The capitalization for the company is at $3.79 million. Meanwhile, the overall price range on a 52 week range was between $0.0036 and $0.0068.
Cereplast Inc (OTCMKTS:CERP) has since received a Notice for the sale of collateral as of Feb 11,204. This follows the recent Horizon Technology Finance Company exercising its rights to take action against default. The company had since failed to meet commitments under the Company’s Venture Loan and Security Agreement of three years ago. As per latest figures available from the financing company, the plastic and resin making company, Cereplast Inc (OTCMKTS:CERP) yet owes loans valued at $2.8 million.
Bio-based resign products
Cereplast Inc (OTCMKTS:CERP) is one of the best names in the niche bio-resign product business. The company began operation in 2001 with the sole purpose of manufacturing as well as developing a range of petrol-substitutes on a commercial basis. The company has since introduced two different product lines in this category- the first is the Cereplast Compostable Resins and the other is the Cereplast Sustainable resins.
Cereplast Inc (OTCMKTS:CERP) products can replace products which are developed on petroleum sources. Most of the modern plastics belong to the carbon-family which leads to the emission of high pollutants. Cereplast on the other hand ensures its products are naturally bio-degradable.
Cereplast Inc (OTCMKTS:CERP) are known to remove nearly 55% of the petroleum components in plastic products. These are then replaced with bio materials which include industrial starch produced from plants.
