Friday, June 17, 2016

Bugs from the Past

The name Glen Courtright takes us back to 2008.  Years later he is still at it - just got bought out by Intrexon.

"The oils can be extracted, which boosts the protein content to above 70%."  

See Here

SkunK

Tuesday, May 24, 2016

Bench Trial Transcript

I have stirred from my slumber.

Here we have the last 70 some pages of the bench trial transcripts. Looks like there are well over 1500 pages.  They were ready on Feb 11th or so and each group had 90 days to fight it becoming public. It is now public and I am posting the end of the trial and the closing arguments.  If you want to read the whole darn thing then you need a Pacer account.  :~)  No decision yet that I can see since this item is the last posting on Pacer . . . 

See Here

SkunK

Monday, February 15, 2016

The DEAL

On December 31, 2015 YA Global Investments, LP ("YAGI") and GreenShift entered into a Settlement Agreement pursuant to which YAGI accepted, in satisfaction of $14,196,897 of principal an interest accrued on debentures issued by GreenShift, a cash payment of $2,000,000 and the execution of a Royalty Agreement by GreenShift and its affiliates.
The Royalty Agreement provides that, for an indefinite term, GreenShift and its subsidiaries will pay to YAGI a royalty equal to 15% of all Intellectual Property Income earned by any of them.  "Intellectual Property Income" is defined in the Royalty Agreement to encompass all payments received under, with respect to, or in connection with any intellectual property, including payments made by licensees, and including any amounts paid in settlement or as an award of damages arising from third party infringement of the intellectual property rights of GreenShift or its subsidiaries, provided that Intellectual Property Income by reason of settlements or awards will be reduced by the amount of any legal fees and expenses incurred in obtaining the settlement or award.
On the same date, GreenShift deposited $400,000 in cash into escrow in anticipation of settling an additional $2,939,300 in principal and interest due from GreenShift to various assignees of YAGI ("YAGI Assignees"). The YAGI Assignees have until March 31, 2016 to accept the relevant settlement terms.
Transfer of Controlling Interest
On December 31, 2015, FLUX Carbon Corporation, an entity owned by Kevin Kreisler, GreenShift's CEO, transferred its ownership interest in Viridis Capital LLC to Bitzio, Inc., a Nevada corporation (OTC Pink: BTZO) ("Bitzio"), in exchange for an 80% equity interest in Bitzio. Viridis Capital was, at the time of the transfer, the owner of 800,115 shares of Series D Preferred Stock issued by GreenShift.
 
Royalty Amount.  For good and valuable consideration, the Obligors agree from and after the date of this Agreement to pay to the Lender (at the times and in the manner set forth in Section 2.2 below) ongoing royalty payments equal to fifteen percent (15%) of all of the Obligors' Intellectual Property Income (the "Royalty").
 
 
 
Obligor's Existing License Agreements

1.
Early Adopter License Agreement dated April 16, 2012 between GS CleanTech Corporation and ABE South Dakota LLC.
2.
Early Adopter License Agreement dated July 8, 2011 between GS CleanTech Corporation and The Andersons Clymers Ethanol, LLC.
3.
Early Adopter License Agreement dated July 19, 2011 between GS CleanTech Corporation and The Andersons Marathon Ethanol LLC.
4.
Early Adopter License Agreement dated December 1, 2010 between GS CleanTech Corporation and Pixley Ethanol, LLC (Calgren).
5.
Early Adopter License Agreement dated July 1, 2010 between GS CleanTech Corporation and Center Ethanol Company, LLC.
6.
Early Adopter License Agreement dated October 1, 2011 between GS CleanTech Corporation and Chief Ethanol Fuels, Inc.
7.
Early Adopter License Agreement dated December 7, 2010 between GS CleanTech Corporation and Patriot Renewable Fuels, LLC, as amended (CHS Annawan).
8.
Early Adopter License Agreement dated August 3, 2010 between GS CleanTech Corporation and Corn, LP.
9.
License Agreement dated July 6, 2011 between GS CleanTech Corporation and Abe Fairmont, LLC, as amended (Flint Hills Resources – Fairmont LLC).
10.
License Agreement dated June 1, 2013 between GS CleanTech Corporation and Platinum Ethanol LLC, as amended (Flint Hills Resources – Arthur LLC).
11.
Early Adopter License Agreement dated July 19, 2010 between GS CleanTech Corporation and Green Plains Renewable Energy, Inc., as amended.
12.
Early Adopter License Agreement dated February 15, 2011 between GS CleanTech Corporation and Green Plains Commodities, LLC (LAKOTA).
13.
Early Adopter License Agreement dated February 15, 2011 between GS CleanTech Corporation and Green Plains Commodities, LLC (RIGA).
14.
Early Adopter License Agreement dated January 29, 2014 between GS CleanTech Corporation and Illinois Corn Processing LLC.
15.
Early Adopter License Agreement dated July 10, 2012 between GS CleanTech Corporation and GTL Resource USA, Inc. (IL River Energy).
16.
Early Adopter License Agreement dated April 1, 2010 between GS CleanTech Corporation and Marquis Energy, LLC, as amended January 1, 2011.
17.
Early Adopter License Agreement dated April 1, 2010 between GS CleanTech Corporation and Marquis Energy – Wisconsin, LLC.
18.
Early Adopter License Agreement dated October 2, 2012 between GS CleanTech Corporation and MGPI Processing, Inc.
19.
License Agreement dated May 31, 2011 between GS CleanTech Corporation and Sunoco, Inc.
20.
Early Adopter License Agreement dated June 11, 2010 between GS CleanTech Corporation and United Ethanol, LLC, as amended.

Greenshift Rebirth? or Greenshift Makeover?

GreenShift Corporation (OTCQB: GERS) ("GreenShift" or the "Company") today announced its completion of a series of transactions resulting in the reduction of GreenShift's total liabilities to an estimated $14 million as of December 31, 2015.

The Company expects to reduce an additional $3 million in debt prior to March 31, 2016, in exchange for about $400,000 in cash, which has been deposited in escrow pending acceptance of settlement terms by the various debt holders. If those additional settlements are completed, GreenShift's remaining liabilities will be primarily comprised of about $8.5 million in convertible debt.

"We intend to eliminate the balance of the Company's overhang on shareholder-friendly terms and press towards a simplified capital structure as quickly as possible," said Kevin Kreisler, GreenShift's Chief Executive Officer. "Our plan to do so involves the restructuring and elimination of the majority of our remaining convertible debt, followed by the conversion of our preferred stock into common stock. We believe that these steps will be important to our ability to raise growth capital, which we hope to achieve this year on favorable terms and at valuations in excess of those reflected by the current price of our stock."

See Here

SkunK

Litigation Update

Although we do not have a verdict in the bench trial, we do have reference to the transcripts on PACER.  The best I can tell, the public does not have access to it until 11 May.

Last year: See Here 

******************************************
You do not have access to this transcript.
TRANSCRIPT of Bench Trial, Volume 8, Pages 1476-1553 held on October 15, 2015 before Judge Larry J. McKinney. (78 pages.) Court Reporter/Transcriber: Cathy Jones (Telephone: (317) 423-0436). Please review Local Rule 80-2 for more information on redaction procedures. Redaction Statement due 3/3/2016. Release of Transcript Restriction set for 5/11/2016. Associated Cases: 1:10-ml-02181-LJM-DML, 1:14-cv-08020-LJM-DML(Jones, Cathy)

******************************************
We also have some recent filings:

Supplemental Authority

ICM wants to destroy old files.

Judge says no.

***************************
SkunK

Friday, January 29, 2016

FLUX Carbon Corporation (“FCC”) aquires GERS

See Here

ALPHARETTA, Ga.--()--FLUX Carbon Corporation (“FCC”) today announced the completion of a series of transactions pursuant to which it acquired majority equity stakes in Bitzio, Inc. (OTCQB: BTZO) and GreenShift Corporation (OTCQB: GERS).
“The recently completed transactions were structured to eliminate the majority of the combined company’s convertible debt and the associated overhang”
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The transactions additionally involved the completion by Bitzio of $2.9 million in conventional debt financing, the acquisition by Bitzio of 80% of GreenShift, and the satisfaction and elimination by GreenShift of about $14 million in debt.
   
FCC and GreenShift have assembled a portfolio of intellectual properties with application potential in three sectors: agriculture, energy, and lifestyle. The technologies cover renewable fuels and chemicals, solar energy and fuels, energy and chemical detection, cannabinoid extraction, wearables and consumer products, among others. The recent transactions are part of FCC’s broader plan to bring those technologies to market.

SkunK

Wednesday, December 30, 2015

Long Side Ventures LLC stake in GERS


Not sure if this is so much a buy as it is a settlement.

See Here

And HERE

SkunK

Wednesday, November 25, 2015

10-Qa

See Here

Diversification is important to mitigate the risk that we may not prevail in our ongoing patent infringement litigation. In October 2014, the District Court in Indiana ruled in favor of the defendants on their motions for summary judgment alleging that our corn oil extraction patents were invalid, including US Pat. Nos. 7,601,858 and 8,168,037. In December 2014, the U.S. Patent and Trademark Office allowed three new corn oil extraction patent applications (U.S. Patent Application Nos.: 11/908,891, 13/185,841 and 13/450,997). Each application was examined and considered patentable by a different patent examiner and after each had considered the summary judgment decision. We cannot speak to the significance of the conflicting determinations, however, under applicable standards, a patent is not invalid until and unless a final judgment of invalidity is rendered after all available appeals have been exhausted. We believe in our intellectual property rights and the system of checks and balances designed to protect those rights – both in the patent office and the courts, and we will appeal the summary judgment ruling at the appropriate time. Nevertheless, diversification of our revenue mix is key goal for 2015.

SkunK

Friday, October 23, 2015

Plaid Canary

Pervasip Corp. announced today (16 Oct) the appointment of officers of its wholly owned subsidiary, Plaid Canary Corporation (the “Company”).

Kevin Kreisler, 42, Chairman, Acting Chief Executive Officer

Kevin Kreisler is the founder, chairman and acting chief executive officer of Plaid Canary Corporation. Mr. Kreisler is responsible for devising the Company’s strategic direction and the development and commercialization of its technologies


Steven Beebe, 57, Chief Operational Officer
. . .  Most recently, Mr. Beebe was Vice President of Information Systems at GreenShift Corporation where he was responsible for developing and managing GreenShift’s industrial automation capability and IT infrastructure. 


Plaid Canary


On July 1, 2015, we purchased Plaid Canary Corporation (“PCC”), a special purpose consolidation company focused on acquiring, developing and supporting companies and technologies in emerging agricultural markets. The acquisition of PCC allows us to offer products, services and new technologies to the emerging cannabis and related agricultural markets. PCC’s Grow Big Supply (“Grow Big”) subsidiary operates a 38,000 square foot retail agricultural grow facility supply store based in Denver, Colorado.

See Here page 23

SkunK

Bench Trial

Bench Trial with Mr. Keisler on Defense Team Oct 9th 1631

Bench Trial  Oct 14th 1633

Bench Trial Court Adjourned 15th Oct 1634

SkunK

Sunday, September 20, 2015

Quarterly is out

See Here

 As of June 30, 2015, the Company had $158,934 in cash, and current liabilities exceeded current assets by $41,061,377. As of December 31, 2014, debentures in the aggregate principal amount of $13,344,990 matured, and these are now in default, as the Company negotiates a modification and extension with the creditors. In addition, in October 2014 the District Court in Indiana issued a partial summary judgment that our corn oil extraction patents are invalid; if we are unable to successfully appeal that ruling or otherwise settle the infringement matter, it would have a significant negative impact on our future cash flows.

In October 2014, the District Court in Indiana ruled in favor of the defendants in our pending patent infringement matter on their motions for summary judgment alleging that our corn oil extraction patents were invalid, including US Pat. Nos. 7,601,858 and 8,168,037. The summary judgment ruling was not final and there are additional issues in the MDL Case that can be expected to be resolved this year. We disagree with the court’s ruling and intend to mount a vigorous appeal at the appropriate time.

Bioproducts Portfolio?

KEVIN KREISLER
Chairman, Chief Executive Officer, Chief Financial Officer &
Chief Accounting Officer
Date:
September 18, 2015

SkunK

Wednesday, September 9, 2015

Last?

Have we seen the last SEC filing?
Is this the last MDL filing?

"This case, therefore, will not benefit from further coordinated proceedings as part of the Multidistrict Litigation."

See Here

SkunK

Thursday, August 27, 2015

Update

Defendants Motion

To Compel

Objection Occurs

Dorisio Deponent

Hagerty Disposition

SkunK

ps.  With the quarterly well past the 5 day extension we are in new territory.  Needless to say the news has not been encouraging on any front and failure to report timely with the SEC is no exception.

Saturday, August 15, 2015

Late 2Q

NOTIFICATION OF LATE FILING
See Here

SkunK

Monday, June 29, 2015

Tuesday, June 23, 2015

 
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