UNREGISTERED SALE OF EQUITY SECURITIES
The Company issued 61,943,930 shares of common stock upon the conversion of debt between April 16, 2009 and May 1, 2009, and another 71,180,584 shares of common stock upon the conversion of debt between May 2, 2009 and May 6, 2009. There are now 378,685,408 shares of common stock outstanding. The new shares were issued in separate transactions with three investors, each of whom exercised its right to convert derivative securities issued by the Company in prior periods. The issuances were exempt from registration under Section 5 of the Securities Act by reason of Section 4(2) of said Act, as the investors were sophisticated, were given access to information about the Company, and had taken the securities for investment. There were no underwriters.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: May 11, 2009
GREENSHIFT CORPORATION
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Now here is a chance to update the SkunK's weekend prediction that we were up to the 500M max OS. Lets take a close look.
We know we increased our OS from 245,560,894 on April 14, 2009 (date of the annual) to 378,685,408 on 7 May, the date of this report. (Although it was signed and released on the 11th, the date of the report is the 7th and it includes transactions through the 6th.)
So during the 17 trading days including and between April 14th and May 6th we increased our OS by 133,124,514. During this same time we traded 247,457,172. In other words for every one share we traded we increased our OS by .537969916 of a share. So lets just round that off to a 53.797% ratio. This is SIGNIFICANTLY LESS than the 60.1846% we saw between 5 March and 14 April (that the SkunK used to project the 500M OS).
Once again the SkunK proves he can overestimate the OS! Apparently all those day traders posting on the boards - they really were day traders posting on the boards! And turning over lots of stock! IT WAS less of an increase of OS and more of day trading action! But not that much.
So where do we sit now?
We traded 190,964,519 shares on the 7th and 8th of May. Multiply that by .53797 and we get an estimate of starting this new week with 378,685,408 another 102,733,182 shares for a total of
481,418,590 shares OS. Rather than hitting the OS wall last Friday afternoon as I had believed, we may hit it today or tomorrow.
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Well I got a late start today (late nights tend to do that!) So as soon as I get a couple "honey dews" [or is it really dues or dos]" done I will be back.
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8 pm UPDATE ON TODAY'S BLOG
Today we traded 47,631,574 shares.
(I told you on Sunday we had seen our last 50M day!)
Multiply 47,631,574 by our new OS "factor" of .53797 and we get 25,624,358 added to our OS. Add that to our COB Friday estimate of 481,418,590 and the SkunK estimates we are NOW firmly up against our 500M OS.
Some of the assumptions I have worked into this guesstimate are:
1. The ratio of dilution over trading in the most recent past is the best info we have to predict the future.
2. Converted shares are traded almost immediately after conversion.
3. The rate of day trading does not increase with the increase of total trading.
The third assumption is obviously my weakest. High volume attracts more volume in day traders. This is how I explain my tendency to over estimate the OS.
As I explained in my "puffer fish" theory yesterday, we could see something move as soon as the 1Q which is due this Friday. (Next Wednesday when you factor in the auto-extension). Remember, a lot of bad news has already been been worked into this stock. Kind of like a bow string pulled taunt.
SkunK
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