| News |

"A Going Concern." You Could Say That.

Julia Roberts was once a pretty spokesperson for Earth Biofuels. Now, she's but a runaway bride.
Keep Dallas Observer Free
I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Dallas and help keep the future of Dallas Observer free.

I've gotten several inquiries in recent days from Earth Biofuels shareholders wanting to know if there's any news concerning their, ahem, investment. Yes, indeed: This very week, the Dallas-based manufacturer and distributor of biodiesel, ethanol and liquid natural gas filed (late, again) with the Securities and Exchange Commission its latest quarterly report, in which the company reports that on September 10, there will be a hearing concerning its' creditors recently filing an involuntary Chapter 7 liquidation.

Says the report, "There are several outcomes that may occur pursuant to this hearing, any of which cannot be reasonably estimated at this time." Well, the company will likely be put to rest: By its own admission earlier in the report, Earth Biofuels -- which boasted an all-star board of directors, including the likes of Julia Roberts, Willie Nelson and Morgan Freeman -- admits, "Earth has incurred significant losses from operations and as of June 30, 2007, has limited financial resources. These factors raise substantial doubt about our ability to continue as a going concern." We're almost done here, looks like. --Robert Wilonsky

Keep the Dallas Observer Free... Since we started the Dallas Observer, it has been defined as the free, independent voice of Dallas, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Dallas with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.


Join the Observer community and help support independent local journalism in Dallas.


Join the Observer community and help support independent local journalism in Dallas.