Restructure of the Legacy Debt.

The SkunK believes certain things have had to happen before we will see progress here. One was the ESYR Reverse Split. That allowed access to funding. That was done last week.

The second is a rework of the YAGI legacy debt so that any funding can be used to move Greenshift forward, rather than simply service a previous debt. I think we see movement on that today.

The third thing, and this is just a guess, is that on or about the one year anniversary of the GE deal being announced on Dec 16, 2008, (next week) we will have an announcement of the purchase target of ESYR. The SkunK has always believed that at least a significant portion of those proceeds will also be used to invest in building out the backlog of the Greenshift COES.

Do I Know this? No. Do I think that scenario is becoming more and more probable? Yes. (Am I always right NO!!!!) That's what the SkunK is thinking. . .
Good Luck.
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Under the terms of the Agreement, YA Global agreed to amend, restate and consolidate the Senior Loans into a single convertible debenture (the "A&R Debenture") in the original principal amount of $42,727,603. The A&R Debenture shall mature on March 31, 2011 and shall bear interest at the annual rate of 6%, a reduction from the average annual rate of 12% previously due under the Senior Loans.

Repayment Terms

Pursuant to the terms of the A&R Debentures, GreenShift shall pay YA Global the sum of $800,000 per quarter for the four calendar quarters commencing January 1, 2010, and the sum of $1,200,000 per quarter for the calendar quarter commencing January 1, 2011 (each, an "Installment Payment"). YA Global shall have the right, but not the obligation, to convert any portion of the A&R Debentures into GreenShift common stock at a rate equal to the lesser of (a) $1.00 or (b) ninety percent (90%) of the lowest daily volume weighted average price of GreenShift common stock during the twenty (20) consecutive trading days immediately preceding the conversion date. Each Installment Payment shall be reduced by the amount of any conversions performed by YA Global on a cumulative basis. YA Global will not be permitted, however, to convert into a number of shares that would cause it to own more than 4.99% of the outstanding GreenShift common shares.

http://www.sec.gov/Archives/edgar/data/1269127/000126912709000154/0001269127-09-000154-index.htm

SkunK