Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from [Arnold Brief - Goldsmith & Harrison].
[Arnold Brief - Goldsmith & Harrison]
You highlighted the cash position of the company and indicated of course that it helps you get through a recession and you can buy stock all of which is a plus, but I can’t remember exactly how you phrased it but you also mentioned something about exploring other opportunities. Could you elaborate at all? I don’t think you’d invest more money in ethanol at this point? Correct me if I’m wrong. You’re certainly not expanding the retail business. What plans do you have for the cash apart from buying the stock?
Douglas Bruggeman
At the moment we’re using it to buy in the stock but in terms of plans we’ll see what opportunistic opportunities come our way. There are a lot of people out there in far worse shape than we are and we feel again buying in the stock is the best use of the cash that we know of right now.
On the other hand if something better comes along, we’re in a position where we have the cash to look at that. And again we’re in a very deep recession. Not many industries, not many businesses are making money right now. But if the opportunity came along to find something like we previously had in synthetic fuel, we have the money to do it and these are the type of times where opportunities do once in a while come along like that. Having cash isn’t the end of the world.
[Arnold Brief - Goldsmith & Harrison]
I know it’s available but I just haven’t looked it up. What is the amount of options that you have left that can be exercised?
Douglas Bruggeman
I can get that number. At the current price I think they’re all under water at this point but the number of options outstanding is approximately 3 million shares.
Operator
Before we proceed to our next question, Mr. Rose is back on the line. Our next question comes from [Mike Nary].
[Mike Nary]
What was depreciation and base cap ex during the quarter and what is kind of the cap ex needs for the retail business going forward do you think?
Douglas Bruggeman
Most of our cap ex for the year-to-date has been on the ethanol part of the business. Capital expenditures on retail year-to-date’s been about $600,000 and probably about $75 million for the ethanol part of the business.
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