Convergence Ethanol, Inc. is focused on supporting the energy industry's production of cleaner burning fuels, through the development of profitable, bio-renewable energy projects and through the engineering, fabrication and sale of environmentally focused systems and equipment. In March, the company filed its unaudited annual results for the period ended December 31, 2011. Though, they were disappointing.
According to the report, cash and cash equivalents totaled zero, net loss pointed $(.01) per share, and retained deficit remained over $22 million.
Judging by these numbers, obviously Convergence is not in its best shape and no one can predict if and when it's going to get profitable.