KiOR’s CFO John Karnes quits abruptly; concerns for 2014 to blame?

December 9, 2013 |

In Texas, KiOR’s CFO John Karnes quit abruptly with an SEC filing on December 1, with very little information provided about his departure. The only clue to Karnes’s departure rests in the third-quarter results, reported a few weeks ago: “Though KiOR reported record fuel production of a tad over 300,000 gallons, it was barely within the original guidance range that KiOR was expected to reach a full quarter prior. Total revenue was $720,000 with a net loss of $43.1 million.” The CFO asserted in his last conference call that the company was “not in a position to provide any forward-looking information at all for 2014 at this point.”

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