The SkunK supremely over estimated the OS. He predicted 5.915B shares OS. "The number of outstanding shares of common stock as of November 20, 2009 was 3,116,171,820." That makes me off by like over 52%? WOW! Thats a (not so good) record! Well, I certainly did not under-estimate dilution here.
Lakota
We have also recently entered into an agreement to finance, build and commission two additional corn oil extraction facilities at a licensee ethanol plant in Lakota, Iowa. We have the long-term right (10 years or more) to buy the oil extracted from each facility in return for the use by each licensee of our patented and patent-pending corn oil extraction technologies.
This is the Global Ethanol Plant. It is a huge 100mmgy unit and that is why it requires two COES units. We already have on at their other facility at Riga MI.
http://www.globalethanolservices.com/Lakota.html
Here are some pictures of RIGA - one is the picture shown on this blog - go to bottom of this link: http://www.globalethanolservices.com/Current_Projects.html
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"The only conditions under which the Company would be required to redeem its convertible preferred stock for cash would be in the event of a liquidation of the Company or in the event of a cash-out merger of the Company." p.13
Interesting wording. . . .
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more to come,
SkunK
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