North Dakota agency seeks to be named trustee of grain buyer
Apr 30 2009
BISMARCK, N.D.
The North Dakota Public Service Commission is seeking to be named trustee of a Montana-based roving grain buyer.
Sustainable Systems, LLC, also is known as Montola. It has a safflower crushing facility in Culbertson that is not operating.
Clark says the PSC is working with the company and the Montana Department of Agriculture to set up three pools of money to pay the producers. Clark says he believes they will be "made whole."
SEE ENTIRE SHORT ARTICLE HERE
http://www.kxmb.com/News/368970.asp
Good Luck,
SkunK
Thursday, April 30, 2009
Wednesday, April 29, 2009
Sustainable Systems Web site is down
Sustainable has always maintained their own web site with links to it from the GreenShift.com site. Curently the link to the Sustainable Systems web site is pass worded and not available to the public.
See link at bottom of this page on the GreenShift site.
http://www.greenshift.com/facilities.php?mode=4
or try link here:
http://www.sustainablesystemsllc.com/
*********
The NEXTDiesel Plant website is still up here:
http://www.nextdiesel.net/
Good Luck to Investors,
SkunK
See link at bottom of this page on the GreenShift site.
http://www.greenshift.com/facilities.php?mode=4
or try link here:
http://www.sustainablesystemsllc.com/
*********
The NEXTDiesel Plant website is still up here:
http://www.nextdiesel.net/
Good Luck to Investors,
SkunK
Culbertson farmers react to loss of oilseed plant
Here is excerpts from an article that tells some of the community and personal loss associated with the closing of the sustainable seed-crushing plant.
**********
The Billings Gazette
CULBERTSON, Mont. (AP) Apr 29 2009 7:15AM
Sometime this week, state agriculture officials will begin selling off the assets of the seed-crushing facility that has helped keep this small community going for more than 50 years.
They'll sell whatever culinary vegetable oil remains at the Montola plant that ceased operations several weeks ago. They'll sell whatever seed they can find in the facility's massive galvanized metal bins and give whatever profits they muster to the safflower farmers who delivered $1.2 million in seed to the facility last fall, but never got paid.
Oelkers said as many as 28 people have worked at the facility in the recent past. Last week it became clear the company had been struggling for some time.
The Agriculture Department announced it would sell the company's oil and stored seed. De Yong said the state had filed a petition for liquidation and notified Sustainable Systems' bondholder.
Sustainable Systems has not responded to several messages from The Billings Gazette left for CEO Paul T. Miller over several days.
A woman working at the Montola plant said she had been instructed not to talk to the media.
Those familiar with the number of farmers who went unpaid say the $1.2 million owed to growers who delivered crops to the crushing plant is only a fraction of what's due and that the community is still tallying its losses.
"I'm not going to sit here and bad mouth Paul. Paul was very good to me. I admire guys like that who take risks. I'd be scared to death to jump into water that deep," said Timm, who took a pretty deep plunge when he bought the special tank for his truck.
The tanks cost $90,000 new.
Sustainable Systems was 100 miles down the road. The next closest buyer is in Fargo, N.D., 540 miles.
SEE ENTIRE ARTICLE HERE:
http://www.kxmc.com/News/368294.asp
Good Luck,
SkunK
**********
The Billings Gazette
CULBERTSON, Mont. (AP) Apr 29 2009 7:15AM
Sometime this week, state agriculture officials will begin selling off the assets of the seed-crushing facility that has helped keep this small community going for more than 50 years.
They'll sell whatever culinary vegetable oil remains at the Montola plant that ceased operations several weeks ago. They'll sell whatever seed they can find in the facility's massive galvanized metal bins and give whatever profits they muster to the safflower farmers who delivered $1.2 million in seed to the facility last fall, but never got paid.
Oelkers said as many as 28 people have worked at the facility in the recent past. Last week it became clear the company had been struggling for some time.
The Agriculture Department announced it would sell the company's oil and stored seed. De Yong said the state had filed a petition for liquidation and notified Sustainable Systems' bondholder.
Sustainable Systems has not responded to several messages from The Billings Gazette left for CEO Paul T. Miller over several days.
A woman working at the Montola plant said she had been instructed not to talk to the media.
Those familiar with the number of farmers who went unpaid say the $1.2 million owed to growers who delivered crops to the crushing plant is only a fraction of what's due and that the community is still tallying its losses.
"I'm not going to sit here and bad mouth Paul. Paul was very good to me. I admire guys like that who take risks. I'd be scared to death to jump into water that deep," said Timm, who took a pretty deep plunge when he bought the special tank for his truck.
The tanks cost $90,000 new.
Sustainable Systems was 100 miles down the road. The next closest buyer is in Fargo, N.D., 540 miles.
SEE ENTIRE ARTICLE HERE:
http://www.kxmc.com/News/368294.asp
Good Luck,
SkunK
Friday, April 24, 2009
Cost Cutters
To add to what appears to be another, in a long line of cost cutting measures, GreenShift has removed the stock pricing service from its website. Yesterday it still provided a delayed stock quote, the bid and ask level II, custom charting and a historical search. I believe it was from Market Watch.
Today it is replaced with a free Yahoo finance 3-month quote, chart and news service.
SEE HERE:
http://www.greenshift.com/financial.php?mode=2&qm_page=58157
Keeping the dream alive another day.
Good Luck,
SkunK
Today it is replaced with a free Yahoo finance 3-month quote, chart and news service.
SEE HERE:
http://www.greenshift.com/financial.php?mode=2&qm_page=58157
Keeping the dream alive another day.
Good Luck,
SkunK
Wednesday, April 22, 2009
Fuel Ethanol Workshop
Got this off lightbeam's post on I-hub, thanks Lightbeam. Looks like its time for a road trip: June 15–18, 2009 Colorado Convention Center, Denver, Colorado, USA. I will be headed off to spring quarters myself in a couple weeks, not sure if Denver is in my sights or not.
http://fuelethanolworkshop.com/ema/DisplayPage.aspx?pageId=About_Us
http://fuelethanolworkshop.com/ema/DisplayPage.aspx?pageId=About_Us
GreenShift Corporation 442, 443, 444, 445 These are the numbers of our four booths. We are still in business!
SkunK
Sustainable Systems
Montana Biodiesel Company Fails to Pay Farmers
By Associated Press
04-22-09
BILLINGS – A Montana biodiesel company, which has received more than $1.6 million in grants and loans from the state and a regional economic development corporation, owes farmers in Montana and North Dakota $1.2 million for crops grown last year.Sustainable Systems LLC and a parent company agreed Wednesday to sign a consent agreement allowing the Montana Department of Agriculture to sell crops, seed and processed cooking oil held at several Montana locations and distribute a $113,000 surety bond to pay part of what is owed to Montana producers.
***********
Last month, the company voluntarily relinquished its license to purchase agricultural commodities and has cooperated with the investigation and planned liquidation to pay growers."The voluntary cooperation should speed up the process of getting money to growers and allowing future development of the bio-products industry in Montana," de Yong said.
***********
The company's Culbertson oilseed processing plant has been in existence since 1956, and produced safflower cooking oil most recently under the Montola brand. At full production, 19 employees crushed and refined oil from crops. The plant now sits idle.
FULL ARTICLE HERE:
http://www.flatheadbeacon.com/articles/article/montana_biodiesel_company_fails_to_pay_farmers/9845/
Good Luck to Investors,
SkunK
By Associated Press
04-22-09
BILLINGS – A Montana biodiesel company, which has received more than $1.6 million in grants and loans from the state and a regional economic development corporation, owes farmers in Montana and North Dakota $1.2 million for crops grown last year.Sustainable Systems LLC and a parent company agreed Wednesday to sign a consent agreement allowing the Montana Department of Agriculture to sell crops, seed and processed cooking oil held at several Montana locations and distribute a $113,000 surety bond to pay part of what is owed to Montana producers.
***********
Last month, the company voluntarily relinquished its license to purchase agricultural commodities and has cooperated with the investigation and planned liquidation to pay growers."The voluntary cooperation should speed up the process of getting money to growers and allowing future development of the bio-products industry in Montana," de Yong said.
***********
The company's Culbertson oilseed processing plant has been in existence since 1956, and produced safflower cooking oil most recently under the Montola brand. At full production, 19 employees crushed and refined oil from crops. The plant now sits idle.
FULL ARTICLE HERE:
http://www.flatheadbeacon.com/articles/article/montana_biodiesel_company_fails_to_pay_farmers/9845/
Good Luck to Investors,
SkunK
Tuesday, April 21, 2009
Auction of Fulton ethanol plant delayed
Thanks to Hapitomcat for this breaking news.
You have a little extra time to get your bid together for the Fulton NY Ethanol Plant! Being a huge plant it was scheduled to have the 11th and 12th GERS COES installed. Prior news had some Fulton officials resigning in order to bid on the plant without conflict of interest. At one time it was also to have a 10mmgy GERS BioDiesel plant co-located as well. Could GERS be part of a deal here in some capacity? NOT Probable. BUT possible. Proximity to east coast ethanol markets AND financial markets could make this a high visibility flag ship aquisition for what ever group purchases it.
Monday April 20, 2009, 6:03 PM
SYRACUSE, N.Y. -- The deadline for bids to buy the bankrupt Northeast Biofuels ethanol plant, initially set for Tuesday, has been delayed a little more than two weeks to accommodate a couple of interested bidders.
U.S. Bankruptcy Judge Margaret Cangilos-Ruiz on Monday set a new deadline of May 7 for companies to submit bids to buy the Oswego County facility, which entered Chapter 11 bankruptcy in January. If more than one bid is received, an auction will be held May 12, according to the judge's order.
WHOLE ARTICLE here
http://www.syracuse.com/news/index.ssf/2009/04/auction_of_fulton_ethanol_plan.html
HERE is a video from better times last fall:
http://www.clipsyndicate.com/publish/video/754526/fulton_ethanol_plant_nears_full_production_11_19_08
SkunK
You have a little extra time to get your bid together for the Fulton NY Ethanol Plant! Being a huge plant it was scheduled to have the 11th and 12th GERS COES installed. Prior news had some Fulton officials resigning in order to bid on the plant without conflict of interest. At one time it was also to have a 10mmgy GERS BioDiesel plant co-located as well. Could GERS be part of a deal here in some capacity? NOT Probable. BUT possible. Proximity to east coast ethanol markets AND financial markets could make this a high visibility flag ship aquisition for what ever group purchases it.
Monday April 20, 2009, 6:03 PM
SYRACUSE, N.Y. -- The deadline for bids to buy the bankrupt Northeast Biofuels ethanol plant, initially set for Tuesday, has been delayed a little more than two weeks to accommodate a couple of interested bidders.
U.S. Bankruptcy Judge Margaret Cangilos-Ruiz on Monday set a new deadline of May 7 for companies to submit bids to buy the Oswego County facility, which entered Chapter 11 bankruptcy in January. If more than one bid is received, an auction will be held May 12, according to the judge's order.
WHOLE ARTICLE here
http://www.syracuse.com/news/index.ssf/2009/04/auction_of_fulton_ethanol_plan.html
HERE is a video from better times last fall:
http://www.clipsyndicate.com/publish/video/754526/fulton_ethanol_plant_nears_full_production_11_19_08
SkunK
Monday, April 20, 2009
Restructure: Looking to Buy? Looking to Sell?
Looking to Buy?
The SkunK sees some changes a foot. We are looking to buy and sell. First the buy: Expect we might see a purchase of another biodiesel plant. A good fit would include one we built. One that is west of NextDiesel, and one that we are presently selling corn oil to?? On my shopping list I have 'Close to at least two 50mmgy or one 100mmgy Ethanol plant we are contracted with'. 'Within range of a Midwest rendering facility'. 'Rail access and room to expand' 'A low dept ratio and some operating cash would also be nice.' Could it happen? Read below from the Annual: "We are currently exploring a number of opportunities in this regard".
Most of the existing U.S. biodiesel fleet is offline and the refineries that are operating are doing so with low and volatile margins that yield low enterprise valuations. This environment is far more of an opportunity to us than a threat; our intellectual properties, feedstock ownership and
hedged high margins position us to acquire qualified biodiesel production assets on favorable terms, which minimizes the capital intensity of our future construction efforts. p. 8,9 A'08
Most of the existing U.S. biodiesel fleet is offline and the refineries that are operating are doing so with low and volatile margins that yield low enterprise valuations. We believe that this environment presents us with compelling consolidation opportunities; we believe that our intellectual properties, feedstock ownership and hedged refining margins position us to acquire qualified biodiesel production assets on favorable terms. This can minimize the capital intensity of our expansion and accelerate our construction efforts. We are currently exploring a number of opportunities in this regard. p.17,18 A '08
The SkunK sees some changes a foot. We are looking to buy and sell. First the buy: Expect we might see a purchase of another biodiesel plant. A good fit would include one we built. One that is west of NextDiesel, and one that we are presently selling corn oil to?? On my shopping list I have 'Close to at least two 50mmgy or one 100mmgy Ethanol plant we are contracted with'. 'Within range of a Midwest rendering facility'. 'Rail access and room to expand' 'A low dept ratio and some operating cash would also be nice.' Could it happen? Read below from the Annual: "We are currently exploring a number of opportunities in this regard".
Most of the existing U.S. biodiesel fleet is offline and the refineries that are operating are doing so with low and volatile margins that yield low enterprise valuations. This environment is far more of an opportunity to us than a threat; our intellectual properties, feedstock ownership and
hedged high margins position us to acquire qualified biodiesel production assets on favorable terms, which minimizes the capital intensity of our future construction efforts. p. 8,9 A'08
Most of the existing U.S. biodiesel fleet is offline and the refineries that are operating are doing so with low and volatile margins that yield low enterprise valuations. We believe that this environment presents us with compelling consolidation opportunities; we believe that our intellectual properties, feedstock ownership and hedged refining margins position us to acquire qualified biodiesel production assets on favorable terms. This can minimize the capital intensity of our expansion and accelerate our construction efforts. We are currently exploring a number of opportunities in this regard. p.17,18 A '08
************************
Looking to Sell?
"We also have some inactive and non-strategic investments that we intend to dispose or liquidate." p.17 A'08
Notice that on the chart on page 30 A'08, the Ottoville Plant, NextDiesel and Sustainable Systems are the only things listed as owned - not Leased or Operating Agreement. They are all either idled or shut down. That means we could sell them. I suspect that NextDiesel could be considered strategic, however the Sustainable Seed Crushing Plant is on the edge of 'strategery.' However, selling that '73 Vega in my yard with a bad title* has proven difficult, let alone a seed crushing plant. I expect the Ottoville plant to be gone soon. Not sure if the Van Wert facility is storage or not, however it is a lease. Expect action in this segment soon.
"As a result of these events, we halted all construction activities and idled our biodiesel refining and oilseed crush operations. We also reduced overhead during the latter half of 2008, we cut headcount down to 75 as of December 31, 2008 and to 38 as of April 1, 2009, and we shut-down our equipment manufacturing operations." p.33 A'08
************
On a personal level it is hard to see over a hundred people cut from the Greenshift rolls. However, without the cash flow to meet payroll, it was obviously a necessary thing to do to keep the dream alive. Hopefully the economy, biofuels and this company will experience a quick recovery and these skilled workers will find employment with this or another company soon.
Good Luck,
SkunK
*******
PS. To explain my "bad title" reference above. It appears we were sold the seed crushing plant without clear title?
*". . . the notes payable to the prior owners of our oilseed crush facility ($4,821,738) pursuant to the relevant acquisition agreements are in default due to the failure by the selling shareholders to disclose that Sustainable did not hold title to its now-owned Culbertson, Montana oilseed crushing facility at the time of the acquisition by GS AgriFuels." p.37 A'08
Sunday, April 19, 2009
NextDiesel responds to Adrian
Interesting Read. Also go to link for entire article. Sorry, I missed the article for a good week, the snow is finally melted here in Hooterville, and I have been wasting my spare time outside!
********
ADRIAN, Mich. -
A Biofuel Industries Group executive has fired back after learning about the city of Adrian’s plan to seek legal action against the company for breaching a cost-sharing agreement.
A Biofuel Industries Group executive has fired back after learning about the city of Adrian’s plan to seek legal action against the company for breaching a cost-sharing agreement.
“Maybe if you or some of the (commission) members had invested the millions of dollars we have, taken no salary for three years, signed personally on bank loans, and provided jobs and a boost to the local economy as best we could, then you would be willing to talk to us and have some sensitivity to working with us.”
“Lawsuits or threats to revert the property back to the tax rolls will not only be detrimental to us, but ultimately to the city of Adrian should that inhibit our ability to put the property to productive use,” he said.
“While production is limited, we are working very hard on raising new capital and finding ways to be viable for the benefit of all,” he said. “The entire biodiesel industry is virtually shut down for many reasons, not the least of which is the economy and frozen credit markets.”
Horowitz said the property had been vacant “forever” with no prospects in sight, and none since its purchase on the balance of the adjacent land the city owns.Even though BIG owes the city money for a road improvement, Horowitz said it should have been the city’s responsibility initially, but was “exacted” from the company as a condition of obtaining building permits.
“We believe our overall contribution to Adrian and Lenawee County has been positive.” Horowitz said. “We continue to fight to survive and hopefully prosper in the future, even though we are under great financial and personal strain.”
See Entire Article Here**********
Good Luck,
SkunK
ps. Why does this make me think of years ago listening to newlyweds fight next door in a thin-walled apartment. You can't close your eyes while they're fighting, and your afraid if they make up you'll never get any sleep.
Saturday, April 18, 2009
New Technologies - CleanTech Portfolio II
Interested in the new technologies of Greenshift? The SkunK went to the Patent Office and found out what is pending. The first date I believe is last action taken. The second date is original filing date. You should be able to find everything at the links. The database only includes data on Published Applications in accordance with the 18 month pre-grant publication rules. Pending patent applications where the applicant has elected to not publish prior to grant remain confidential. Also does not include patents we purchased or leased. My comments are in green. The SkunK ran the names of the Directors and this is what he found:
1
20080299632 December 4, 2008 Winsness; David James; (Alpharetta, GA) ; Barlage; Greg; (Sandston, VA) Methods for Recovering Oil from a Fractionated Dry Milling Process #
[Looks like this is pretreatment patent for the COES]
Processes for recovering oil from thin stillage produced during a fractionation-based dry milling process. The thin stillage can be heated or heated in combination with centrifuging to separate and recover oil from the thin stillage. Optionally, the thin stillage may be concentrated prior to recovering the oil.
2
20080190567 August 14, 2008 Winsness; David J.; (Alpharetta, GA)
Method of Recovering Oil from Corn Byproducts and Related Subsystems (II)
[Withdrawal of CO2 from the air. NOT from exhaust. From the AIR!]
3
20080110577 May 15, 2008 Winsness; David J.; (Alpharetta, GA)
METHOD AND SYSTEMS FOR ENHANCING OIL RECOVERY FROM ETHANOL PRODUCTION BYPRODUCTS
[COES patent]
In one aspect of the invention, a method and related system efficiently and effectively recover a significant amount of valuable, usable oil from byproducts formed during a dry milling process used for producing ethanol. The method may include forming a concentrate from the byproduct and recovering oil from the concentrate. The step of forming the concentrate may comprise evaporating the byproduct using a multi-stage evaporator, as well as recovering the oil before the final stage of the evaporator. Further, the step of recovering oil from the concentrate may comprise using a centrifuge and, in particular, a disk stack centrifuge. Other aspects of the invention include related methods and subsystems for recovering oil.
4
20070238891 October 11, 2007 Winsness; David J.; (Alpharetta, GA) ; Davis; John W.; (Chesapeake Beach, MD) ; Barlage; Gregory Paul; (Sandstron, VA) ; Cantrell; David Fred; (Lakemont, GA)
METHOD OF FREEING THE BOUND OIL PRESENT IN WHOLE STILLAGE AND THIN STILLAGE *
Filed:
March 20, 2007
[Pre-Treatment for the COES]
A method is provided for recovering oil from stillage including oil resulting from a process used for producing ethanol. In one embodiment, the method includes heating the stillage to a temperature sufficient to at least partially separate, or unbind, the oil therefrom The method further includes recovering the oil from the stillage.
5
20070196892 August 23, 2007 Winsness; David J.; (Alpharetta, GA) ; Krablin; Richard; (Stewartsville, NJ) ; Kreisler; Kevin E.; (Mt. Arlington, NJ)
METHOD OF CONVERTING A FERMENTATION BYPRODUCT INTO OXYGEN AND BIOMASS AND RELATED SYSTEMS *
Filed:
March 20, 2007
[Patent for the Algae Bioreactor]
In one aspect, the invention relates to a method of converting byproducts of a fermentation process into oxygen and biomass. Related methods, systems, and other aspects are also described.
6
20060041153 February 23, 2006 Cantrell; David Fred; (Lakemont, GA) ; Winsness; David J.; (Alpharetta, GA)
Method of processing ethanol byproducts and related subsystems
Filed:
September 30, 2005
[COES Patent Steps 31-50]
In one aspect of the invention, a method recovers oil from a concentrated byproduct, such as evaporated thin stillage formed during a dry milling process used for producing ethanol. The method includes forming a concentrate from the byproduct and recovering oil from the concentrate. The step of forming the concentrate may comprise evaporating the byproduct. Further, the step of separating the oil from the concentrate may comprise using a centrifuge and, in particular, a disk stack centrifuge. Other aspects of the invention include related methods and subsystems for recovering oil from thin stillage.
7
20060041152 February 23, 2006 Cantrell; David Fred; (Lakemont, GA) ; Winsness; David J.; (Alpharetta, GA)
Method of processing ethanol byproducts and related subsystems
Filed:
May 5, 2005
[Central COES Patent, filed in 2005 Steps 1-30]
In one aspect of the invention, a method recovers oil from a concentrated byproduct, such as evaporated thin stillage formed during a dry milling process used for producing ethanol. The method includes forming a concentrate from the byproduct and recovering oil from the concentrate. The step of forming the concentrate may comprise evaporating the byproduct. Further, the step of separating the oil from the concentrate may comprise using a centrifuge and, in particular, a disk stack centrifuge. Other aspects of the invention include related methods and subsystems for recovering oil from thin stillage.
8
20090005903 January 1, 2009 Winsness; David; (Alpharetta, GA)
Method Of Blending Fuels And Related System *
[Beauty of this is blender's credit could happen at the pump, placing the incentive where it should be to drive consumption, with the consumer/retailer]
A method and related system blend fuels and dispense a blended fuel to a vehicle at a fueling station. In one aspect, the method comprises selecting the desired proportion of at least one of the fuels available at the service station, blending that fuel with another one available, and delivering the blended fuel to the vehicle. Preferably, the first fuel is a non-renewable, petroleum based one, while the second fuel is a non-petroleum based, renewable one (such as ethanol or biodiesel).
*GS INDUSTRIAL DESIGN, INC.
#GS CLEANTECH CORPORATION
1
20080299632 December 4, 2008 Winsness; David James; (Alpharetta, GA) ; Barlage; Greg; (Sandston, VA) Methods for Recovering Oil from a Fractionated Dry Milling Process #
[Looks like this is pretreatment patent for the COES]
Processes for recovering oil from thin stillage produced during a fractionation-based dry milling process. The thin stillage can be heated or heated in combination with centrifuging to separate and recover oil from the thin stillage. Optionally, the thin stillage may be concentrated prior to recovering the oil.
2
20080190567 August 14, 2008 Winsness; David J.; (Alpharetta, GA)
Method of Recovering Oil from Corn Byproducts and Related Subsystems (II)
[Withdrawal of CO2 from the air. NOT from exhaust. From the AIR!]
The present invention is directed to methods for removing CO.sub.2 from air, which comprises exposing sorbent covered surfaces to the air. The invention also provides for an apparatus for exposing air to a CO.sub.2 sorbent. In another aspect, the invention provides a method and apparatus for separating carbon dioxide (CO.sub.2) bound in a sorbent.
Extracting carbon dioxide (CO.sub.2) from ambient air would make it possible to use carbon-based fuels and deal with the associated greenhouse gas emissions after the fact. Since CO.sub.2 is neither poisonous nor harmful in parts per million quantities but creates environmental problems simply by accumulating in the atmosphere, it is desirable to remove CO.sub.2 from air in order to compensate for emissions elsewhere and at different times.
3
20080110577 May 15, 2008 Winsness; David J.; (Alpharetta, GA)
METHOD AND SYSTEMS FOR ENHANCING OIL RECOVERY FROM ETHANOL PRODUCTION BYPRODUCTS
[COES patent]
In one aspect of the invention, a method and related system efficiently and effectively recover a significant amount of valuable, usable oil from byproducts formed during a dry milling process used for producing ethanol. The method may include forming a concentrate from the byproduct and recovering oil from the concentrate. The step of forming the concentrate may comprise evaporating the byproduct using a multi-stage evaporator, as well as recovering the oil before the final stage of the evaporator. Further, the step of recovering oil from the concentrate may comprise using a centrifuge and, in particular, a disk stack centrifuge. Other aspects of the invention include related methods and subsystems for recovering oil.
4
20070238891 October 11, 2007 Winsness; David J.; (Alpharetta, GA) ; Davis; John W.; (Chesapeake Beach, MD) ; Barlage; Gregory Paul; (Sandstron, VA) ; Cantrell; David Fred; (Lakemont, GA)
METHOD OF FREEING THE BOUND OIL PRESENT IN WHOLE STILLAGE AND THIN STILLAGE *
Filed:
March 20, 2007
[Pre-Treatment for the COES]
A method is provided for recovering oil from stillage including oil resulting from a process used for producing ethanol. In one embodiment, the method includes heating the stillage to a temperature sufficient to at least partially separate, or unbind, the oil therefrom The method further includes recovering the oil from the stillage.
5
20070196892 August 23, 2007 Winsness; David J.; (Alpharetta, GA) ; Krablin; Richard; (Stewartsville, NJ) ; Kreisler; Kevin E.; (Mt. Arlington, NJ)
METHOD OF CONVERTING A FERMENTATION BYPRODUCT INTO OXYGEN AND BIOMASS AND RELATED SYSTEMS *
Filed:
March 20, 2007
[Patent for the Algae Bioreactor]
In one aspect, the invention relates to a method of converting byproducts of a fermentation process into oxygen and biomass. Related methods, systems, and other aspects are also described.
6
20060041153 February 23, 2006 Cantrell; David Fred; (Lakemont, GA) ; Winsness; David J.; (Alpharetta, GA)
Method of processing ethanol byproducts and related subsystems
Filed:
September 30, 2005
[COES Patent Steps 31-50]
In one aspect of the invention, a method recovers oil from a concentrated byproduct, such as evaporated thin stillage formed during a dry milling process used for producing ethanol. The method includes forming a concentrate from the byproduct and recovering oil from the concentrate. The step of forming the concentrate may comprise evaporating the byproduct. Further, the step of separating the oil from the concentrate may comprise using a centrifuge and, in particular, a disk stack centrifuge. Other aspects of the invention include related methods and subsystems for recovering oil from thin stillage.
7
20060041152 February 23, 2006 Cantrell; David Fred; (Lakemont, GA) ; Winsness; David J.; (Alpharetta, GA)
Method of processing ethanol byproducts and related subsystems
Filed:
May 5, 2005
[Central COES Patent, filed in 2005 Steps 1-30]
In one aspect of the invention, a method recovers oil from a concentrated byproduct, such as evaporated thin stillage formed during a dry milling process used for producing ethanol. The method includes forming a concentrate from the byproduct and recovering oil from the concentrate. The step of forming the concentrate may comprise evaporating the byproduct. Further, the step of separating the oil from the concentrate may comprise using a centrifuge and, in particular, a disk stack centrifuge. Other aspects of the invention include related methods and subsystems for recovering oil from thin stillage.
8
20090005903 January 1, 2009 Winsness; David; (Alpharetta, GA)
Method Of Blending Fuels And Related System *
[Beauty of this is blender's credit could happen at the pump, placing the incentive where it should be to drive consumption, with the consumer/retailer]
A method and related system blend fuels and dispense a blended fuel to a vehicle at a fueling station. In one aspect, the method comprises selecting the desired proportion of at least one of the fuels available at the service station, blending that fuel with another one available, and delivering the blended fuel to the vehicle. Preferably, the first fuel is a non-renewable, petroleum based one, while the second fuel is a non-petroleum based, renewable one (such as ethanol or biodiesel).
*GS INDUSTRIAL DESIGN, INC.
#GS CLEANTECH CORPORATION
Friday, April 17, 2009
New Technologies - CleanTech Portfolio
We finally have some word on our new technologies. Yes the devil is in the details. Numerous ones below however, if proven to be cost effective, have the potential to be real game changers.
***********
We have developed an entire portfolio of innovative biological, chemical and physical technologies with a view towards shifting the U.S. corn ethanol complex into increased financial and environmental sustainability. We intend to leverage our existing extraction platform to drive the convergence of cellulosic and corn ethanol. Our portfolio of Cellulosic Corn™ technologies include a number of (a) feedstock conditioning, (b) oil production, extraction and refining, and (c) energy and carbon mitigation technologies, all designed to facilitate the following key goals:
Increase the net energy balance of biofuel derived from corn;
Increase profitability of corn ethanol;
Decrease amount of petroleum burned to make corn derived biofuel;
Increase nutritional content of corn ethanol co-products;
Convert the carbon dioxide emitted from corn ethanol production into liquid fuels and other products;
Diversify the biomass mix accepted and produced by corn ethanol facilities;
Decrease the commodity and financial risk profile of corn ethanol;
Standardize corn-friendly cellulosic technology by building on the existing corn ethanol complex; and,
Enhance the competitive positioning of corn ethanol in the domestic and global markets.
GreenShift’s patented and patent-pending feedstock conditioning technologies are designed to increase the availability of fermentable sugars in whole corn and enable corn ethanol producers to diversify their feedstock mix by accepting and processing corn cobs, stover and cellulosic biomass into additional biofuels. Key goals include increasing ethanol and extracted corn oil yields, decreasing raw material and utility costs, and improving the value of distillers grain.
Achievement of these goals can be expected to enhance the profitability of first generation corn ethanol producers while decreasing their sensitivity to commodity and financial risk. These technologies have been demonstrated at the bench and pilot scale.
Our oil production, extraction and refining technologies include our existing commercialized corn oil extraction and refining technologies but also include our new patent-pending Cellulosic Oil™ process, which has demonstrated (at bench scales) the ability to increase oil extraction yields to more than 10 gallons for every 100 gallons of corn ethanol produced – an increase of more than 50% over our current proven yield of 6.5 gallons for every 100 gallons of ethanol produced. Cellulosic Oil™ technology has the potential to increase oil yields even higher while favorably impacting the nutritional qualities of distillers grain by conditioning and converting cellulosic and other biomass into additional oil and feed products.
We achieve this with a synergistic combination of feedstock conditioning and low energy bioreactor technologies that are also designed to reduce the energy needs of the host ethanol producer while using the full throughput capacity of our existing extraction facilities.
GreenShift’s patent-pending biodiesel refining technologies intensify the chemical reactions under which biodiesel refining occurs. We are consequently able to complete the biodiesel refining process in minutes instead of hours under true continuous flow conditions – at much smaller scales, and at reduced capital and operating costs as compared to traditional processes.
Our biodiesel refining technologies are designed to integrate with our extraction technologies at our client ethanol facilities for direct onsite refining of corn oil and Cellulosic Oil™ into biodiesel. {SkunK note: When you get production of corn oil to the 10mmgy point in a typical 100mmgy ethanol plant, you eliminate the transportation of corn oil. Each plant can produce 10mmgy of corn based biodiesel in its own biodiesel plant, from its own feedstock, and sell into the local biodiesel market}
Our patented and patent-pending energy and carbon mitigation technologies rely on the balanced and synergistic application of several biological, chemical and physical technologies to cost-effectively decarbonize ethanol production by converting carbon dioxide emissions into liquid fuels and other value-added products. These technologies have also been demonstrated at bench scales.
We have applied for grant financing to support the construction of pilot facilities based on each of our Cellulosic Corn™ technologies.
We are also in discussions with targeted early-adopters involving the testing and commercial
demonstration of each technology.
***********
Good Luck,
SkunK
***********
We have developed an entire portfolio of innovative biological, chemical and physical technologies with a view towards shifting the U.S. corn ethanol complex into increased financial and environmental sustainability. We intend to leverage our existing extraction platform to drive the convergence of cellulosic and corn ethanol. Our portfolio of Cellulosic Corn™ technologies include a number of (a) feedstock conditioning, (b) oil production, extraction and refining, and (c) energy and carbon mitigation technologies, all designed to facilitate the following key goals:
Increase the net energy balance of biofuel derived from corn;
Increase profitability of corn ethanol;
Decrease amount of petroleum burned to make corn derived biofuel;
Increase nutritional content of corn ethanol co-products;
Convert the carbon dioxide emitted from corn ethanol production into liquid fuels and other products;
Diversify the biomass mix accepted and produced by corn ethanol facilities;
Decrease the commodity and financial risk profile of corn ethanol;
Standardize corn-friendly cellulosic technology by building on the existing corn ethanol complex; and,
Enhance the competitive positioning of corn ethanol in the domestic and global markets.
GreenShift’s patented and patent-pending feedstock conditioning technologies are designed to increase the availability of fermentable sugars in whole corn and enable corn ethanol producers to diversify their feedstock mix by accepting and processing corn cobs, stover and cellulosic biomass into additional biofuels. Key goals include increasing ethanol and extracted corn oil yields, decreasing raw material and utility costs, and improving the value of distillers grain.
Achievement of these goals can be expected to enhance the profitability of first generation corn ethanol producers while decreasing their sensitivity to commodity and financial risk. These technologies have been demonstrated at the bench and pilot scale.
Our oil production, extraction and refining technologies include our existing commercialized corn oil extraction and refining technologies but also include our new patent-pending Cellulosic Oil™ process, which has demonstrated (at bench scales) the ability to increase oil extraction yields to more than 10 gallons for every 100 gallons of corn ethanol produced – an increase of more than 50% over our current proven yield of 6.5 gallons for every 100 gallons of ethanol produced. Cellulosic Oil™ technology has the potential to increase oil yields even higher while favorably impacting the nutritional qualities of distillers grain by conditioning and converting cellulosic and other biomass into additional oil and feed products.
We achieve this with a synergistic combination of feedstock conditioning and low energy bioreactor technologies that are also designed to reduce the energy needs of the host ethanol producer while using the full throughput capacity of our existing extraction facilities.
GreenShift’s patent-pending biodiesel refining technologies intensify the chemical reactions under which biodiesel refining occurs. We are consequently able to complete the biodiesel refining process in minutes instead of hours under true continuous flow conditions – at much smaller scales, and at reduced capital and operating costs as compared to traditional processes.
Our biodiesel refining technologies are designed to integrate with our extraction technologies at our client ethanol facilities for direct onsite refining of corn oil and Cellulosic Oil™ into biodiesel. {SkunK note: When you get production of corn oil to the 10mmgy point in a typical 100mmgy ethanol plant, you eliminate the transportation of corn oil. Each plant can produce 10mmgy of corn based biodiesel in its own biodiesel plant, from its own feedstock, and sell into the local biodiesel market}
Our patented and patent-pending energy and carbon mitigation technologies rely on the balanced and synergistic application of several biological, chemical and physical technologies to cost-effectively decarbonize ethanol production by converting carbon dioxide emissions into liquid fuels and other value-added products. These technologies have also been demonstrated at bench scales.
We have applied for grant financing to support the construction of pilot facilities based on each of our Cellulosic Corn™ technologies.
We are also in discussions with targeted early-adopters involving the testing and commercial
demonstration of each technology.
***********
Good Luck,
SkunK
More News
The Competition
While each of the competing extraction providers has copied our patent-pending extraction technologies, they have done it poorly; their average yield is about 25% of our proven yield. The competing installations that we have seen also increase the host ethanol facility’s use of fossil fuel, thereby reducing the net value of the oil that they are able to extract. Conversely, we reduce the utility costs of our ethanol clients by about 10%.
We have a substantial investment in the development of this model and we have filed many novel patent applications with anticipated issuances beginning in 2009. Issued patents can be expected to have significant negative consequences for unauthorized use of our technologies by third parties.
DIRECTORS AND EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
Name Age Position
Kevin Kreisler 36 Chairman, President & Chief Executive Officer
David Winsness 41 Director, Chief Technology Officer
Greg Barlage 44 Director, Chief Operating Officer
Edward Carroll 42 Director, Chief Financial Officer
Richard Krablin 64 Director, Executive Vice President
The SkunK noticed three major changes above.
1. As noted before, Richard Krablin, long time employee, has joined the Board of Directors.
2. Terry Nosan, from the BIG, NextDiesel plant, is no longer a Director.
3. Edward Carroll, announced as President in a December 15, 2008 8-K, in conjunction with the GE release, is no longer President, the job having reverted back to Mr. Kreisler.
Maybe this was here before - But it is new to the SkunK
. . . our extraction contracts include a provision that reduces our corn oil purchase price in the event that the tax credit is reduced or eliminated
Is GS Design and/or Sustainable and/or NEXTDiesel for sale??
We also have some inactive and non-strategic investments that we intend to dispose or liquidate.
While each of the competing extraction providers has copied our patent-pending extraction technologies, they have done it poorly; their average yield is about 25% of our proven yield. The competing installations that we have seen also increase the host ethanol facility’s use of fossil fuel, thereby reducing the net value of the oil that they are able to extract. Conversely, we reduce the utility costs of our ethanol clients by about 10%.
We have a substantial investment in the development of this model and we have filed many novel patent applications with anticipated issuances beginning in 2009. Issued patents can be expected to have significant negative consequences for unauthorized use of our technologies by third parties.
DIRECTORS AND EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
Name Age Position
Kevin Kreisler 36 Chairman, President & Chief Executive Officer
David Winsness 41 Director, Chief Technology Officer
Greg Barlage 44 Director, Chief Operating Officer
Edward Carroll 42 Director, Chief Financial Officer
Richard Krablin 64 Director, Executive Vice President
The SkunK noticed three major changes above.
1. As noted before, Richard Krablin, long time employee, has joined the Board of Directors.
2. Terry Nosan, from the BIG, NextDiesel plant, is no longer a Director.
3. Edward Carroll, announced as President in a December 15, 2008 8-K, in conjunction with the GE release, is no longer President, the job having reverted back to Mr. Kreisler.
Maybe this was here before - But it is new to the SkunK
. . . our extraction contracts include a provision that reduces our corn oil purchase price in the event that the tax credit is reduced or eliminated
Is GS Design and/or Sustainable and/or NEXTDiesel for sale??
We also have some inactive and non-strategic investments that we intend to dispose or liquidate.
Thursday, April 16, 2009
Unprecedented Volatility
Here are some of the things that caught the eyes of this SkunK, the first time through. As I expected things are not wonderful in the state of the economy, biodiesel land or the providence of GreenShift.
My comments are in blue: the rest should be quotes from the annual. (Hopefully I did it right)
**********
First to set the Mood:
Unfortunately, unprecedented volatility in the global financial and commodity markets intervened before we were able to complete construction and initiate production with the amount of corn oil extraction facilities we needed to achieve break-even cash flow. The adverse conditions in the financial markets during the third and fourth quarters of 2008 resulted in the loss of previously committed sources of liquidity during the second half of 2008. We believe that these market conditions were also responsible for the failure of our $38 million project equity financing to close during the first quarter 2009 as called for by the relevant December 2008 investment agreements.
We intend to fund our principal liquidity and capital resource requirements through new financing activities. The Company has no committed source of capital that is sufficient to meet all of its operational and other regular cash needs during 2009 and beyond. Obtaining this capital is currently Management's top priority.
Here are some smaller notes the SkunK took during his first foray through the Annual in no particular order:
EBITDA standard for employee compensation was eliminated during 2008.. Included in our operating expenses for the year ended December 31, 2008 was $7,252,883 in stock-based compensation
New Director, long time employee
Richard Krablin 64 Director, Executive Vice President
We also reduced overhead during the latter half of 2008, we cut head count down to 75 as of December 31, 2008 and to 38 as of April 1, 2009, and we shut-down our equipment manufacturing operations.
. . . all biodiesel refining and construction activities are currently suspended pending the completion of the additional financing that we need to operate our biodiesel refinery and to continue construction.
BIG owes GreenShift money?
BIG owns and operates a biodiesel production facility in Adrian, Michigan
Prior to the acquisition, the Company had billed BIG for $126,882 in engineering services, $1,540,037 for equipment, and $ 451,154 for corn oil. These amounts were not eliminated in the consolidation as the activity occurred prior to acquisition.
MIF used to convert Debt
During the year ended December 31, 2008, the Company entered into amended and restated convertible debentures with MIF that total $1,319,783. This amount includes the $410,930 note payable MIF purchased from Viridis, the $757,853 convertible debenture that was purchased from Candent, and the $500,000 convertible debenture that was purchased from Acutus Capital, as well as an additional $151,000 in new convertible debt that MIF purchased during December 2008.
Corn oil extracted for 2008: 1,223,562 gallons
default of its debt agreement with Acutus Capital, LLC,
the Company is in default of payments owed under the purchase agreement with Bollheimer Associates
*********
Sustainable idled. For Sale?
Stillwater loan is currently in default. The Company is currently exploring opportunities to liquidate its interest in NextGen Acquisition under conditions that would eliminate the Company's obligation to Stillwater.
Sustainable Systems, LLC is currently negotiating a settlement agreement with the states of Montana and North Dakota pertaining to outstanding payments due for purchase of oil seeds during 2008 that were contracted at rates far greater than current oilseed values. Sustainable had previously negotiated with two separate banks to receive working capital financing sufficient to service these obligations. Neither bank was able to close due to strain in the prevailing commodity and financial markets. Sustainable has accordingly idled its operations and voluntarily surrendered its commodity license to the state of Montana Department of Agriculture pending liquidation of Sustainable's inventories to satisfy the oilseed payables. Sustainable is permitted to reacquire its commodity license upon the completion of sufficient working capital and equity financing to operate.
now in default due to the failure by the selling shareholders to disclose that Sustainable did not hold title to its now-owned Culbertson, Montana oilseed crushing facility at the time of the acquisition by GS AgriFuels.
**********
Gross profit for year ended December 31, 2008 was $3,364,797, representing a gross margin of 14.2%. This compared to $1,592,599, 10.8%, in the comparable period of the prior year.
. . . accrued legal and other fees relating to the Company's previously planned $38,000,000 financing with CleanBioenergy Partners, LLC of about $2,000,000
***********
Mr. Green returns
On November 12, 2008, GreenShift Corporation entered into a consulting services agreement with James Green. Under the agreement, Mr. Green shall receive 100,000 shares of GreenShift common stock in exchange for his services.
The number of outstanding shares of common stock . . 245,560,894
More Later,
SkunK
My comments are in blue: the rest should be quotes from the annual. (Hopefully I did it right)
**********
First to set the Mood:
Unfortunately, unprecedented volatility in the global financial and commodity markets intervened before we were able to complete construction and initiate production with the amount of corn oil extraction facilities we needed to achieve break-even cash flow. The adverse conditions in the financial markets during the third and fourth quarters of 2008 resulted in the loss of previously committed sources of liquidity during the second half of 2008. We believe that these market conditions were also responsible for the failure of our $38 million project equity financing to close during the first quarter 2009 as called for by the relevant December 2008 investment agreements.
We intend to fund our principal liquidity and capital resource requirements through new financing activities. The Company has no committed source of capital that is sufficient to meet all of its operational and other regular cash needs during 2009 and beyond. Obtaining this capital is currently Management's top priority.
Here are some smaller notes the SkunK took during his first foray through the Annual in no particular order:
EBITDA standard for employee compensation was eliminated during 2008.. Included in our operating expenses for the year ended December 31, 2008 was $7,252,883 in stock-based compensation
New Director, long time employee
Richard Krablin 64 Director, Executive Vice President
We also reduced overhead during the latter half of 2008, we cut head count down to 75 as of December 31, 2008 and to 38 as of April 1, 2009, and we shut-down our equipment manufacturing operations.
. . . all biodiesel refining and construction activities are currently suspended pending the completion of the additional financing that we need to operate our biodiesel refinery and to continue construction.
BIG owes GreenShift money?
BIG owns and operates a biodiesel production facility in Adrian, Michigan
Prior to the acquisition, the Company had billed BIG for $126,882 in engineering services, $1,540,037 for equipment, and $ 451,154 for corn oil. These amounts were not eliminated in the consolidation as the activity occurred prior to acquisition.
MIF used to convert Debt
During the year ended December 31, 2008, the Company entered into amended and restated convertible debentures with MIF that total $1,319,783. This amount includes the $410,930 note payable MIF purchased from Viridis, the $757,853 convertible debenture that was purchased from Candent, and the $500,000 convertible debenture that was purchased from Acutus Capital, as well as an additional $151,000 in new convertible debt that MIF purchased during December 2008.
Corn oil extracted for 2008: 1,223,562 gallons
default of its debt agreement with Acutus Capital, LLC,
the Company is in default of payments owed under the purchase agreement with Bollheimer Associates
*********
Sustainable idled. For Sale?
Stillwater loan is currently in default. The Company is currently exploring opportunities to liquidate its interest in NextGen Acquisition under conditions that would eliminate the Company's obligation to Stillwater.
Sustainable Systems, LLC is currently negotiating a settlement agreement with the states of Montana and North Dakota pertaining to outstanding payments due for purchase of oil seeds during 2008 that were contracted at rates far greater than current oilseed values. Sustainable had previously negotiated with two separate banks to receive working capital financing sufficient to service these obligations. Neither bank was able to close due to strain in the prevailing commodity and financial markets. Sustainable has accordingly idled its operations and voluntarily surrendered its commodity license to the state of Montana Department of Agriculture pending liquidation of Sustainable's inventories to satisfy the oilseed payables. Sustainable is permitted to reacquire its commodity license upon the completion of sufficient working capital and equity financing to operate.
now in default due to the failure by the selling shareholders to disclose that Sustainable did not hold title to its now-owned Culbertson, Montana oilseed crushing facility at the time of the acquisition by GS AgriFuels.
**********
Gross profit for year ended December 31, 2008 was $3,364,797, representing a gross margin of 14.2%. This compared to $1,592,599, 10.8%, in the comparable period of the prior year.
. . . accrued legal and other fees relating to the Company's previously planned $38,000,000 financing with CleanBioenergy Partners, LLC of about $2,000,000
***********
Mr. Green returns
On November 12, 2008, GreenShift Corporation entered into a consulting services agreement with James Green. Under the agreement, Mr. Green shall receive 100,000 shares of GreenShift common stock in exchange for his services.
The number of outstanding shares of common stock . . 245,560,894
More Later,
SkunK
Annual Report Q & A
As we are waiting for the release of the Annual Report, the SkunK sent the following question. He just received this answer:
Question:
Mr. Kreisler, Can you comment on the filing of the GERS Annual Report?
Answer:
Yes. It looks like we need to reduce administrative headcount. It will be out tomorrow morning.
I would like to thank Mr. Kreisler for his response.
SkunK
Question:
Mr. Kreisler, Can you comment on the filing of the GERS Annual Report?
Answer:
Yes. It looks like we need to reduce administrative headcount. It will be out tomorrow morning.
I would like to thank Mr. Kreisler for his response.
SkunK
Wednesday, April 15, 2009
Deadline Passed?
Here is the deadline information for the annual report by timezone.
http://www.merrilldirect.com/services/law/timezones.htm#United%20States
SEC deadline to receive today's date (except T+3, Section 16 & MEF)**
5:30pm et
The EDGAR system hours of operation for submitting files are 6:00 a.m. to 10:00 p.m. Eastern Time, weekdays, excluding Federal Holidays. Files submitted after 5:30 p.m. Eastern (with the exception of Section 16 filings) will receive the next business day's filing date.
Companies may request a filing extension for their Form 10-Q's and 10-K's by submitting Form 12b-25 via the EDGAR system. By filing this form, a filer may gain up to 5 additional days to file Form 10-Q or 15 days to file Form 10-K. Companies have up to 24 hours after the original filing deadline to file Form 12b-25.
ESYM filed its annual report (10-K) today after market hours, on time. GERS and CICS have not showed up on SEC filings yet.
SkunK
http://www.merrilldirect.com/services/law/timezones.htm#United%20States
SEC deadline to receive today's date (except T+3, Section 16 & MEF)**
5:30pm et
The EDGAR system hours of operation for submitting files are 6:00 a.m. to 10:00 p.m. Eastern Time, weekdays, excluding Federal Holidays. Files submitted after 5:30 p.m. Eastern (with the exception of Section 16 filings) will receive the next business day's filing date.
Companies may request a filing extension for their Form 10-Q's and 10-K's by submitting Form 12b-25 via the EDGAR system. By filing this form, a filer may gain up to 5 additional days to file Form 10-Q or 15 days to file Form 10-K. Companies have up to 24 hours after the original filing deadline to file Form 12b-25.
ESYM filed its annual report (10-K) today after market hours, on time. GERS and CICS have not showed up on SEC filings yet.
SkunK
Today is the day
Today is the day we will see the annual report. It may come after trading hours, and I will say at 1648et. Edgar will be just too busy today to wait until the last second. Here is a compilation of what the SkunK expects we might see.
What to expect
As I have made the point many times, the economy is in a deep recession and the bio-diesel world is in a depression. I am not expecting to see roses blossom in a hurricane.
1. Cost cutting. With the Adrian biodiesel plant idled I expect to see cost cutting to the bone. We do not have the cash to operate as usual with no operational margins. From what was about 150 employees after the Next Diesel acquisition - I expect to see less than half of that today. 50-75 employees?
2. GS Design. I expect that GS Design will be reduced or absorbed into the Alpharetta, GA operation. With NO third party biodiesel plants being built. (Why build when you can buy for pennies on the dollar at foreclosure auction?) With not much of anything being built or expanded in the country - it would be hard to justify maintaining a metal fabricating plant. I suspect future COES will be contracted out and the construction will be supervised by Greenshift Technicians.
3. COES production. This report will include COES production through the end of the year. I wish to see three COES producing for the entire quarter. 1.3x.25=.325mmgy + 1.5 x 2 x .25=.75mmgy. Operating at 65% of capacity we should see 698,750 gallons of corn oil produced. With NextDiesel idled we will see lower margins per gallon, but selling to local plants we may see less transportation/operational costs.
4. Shares Outstanding. The SkunK will stick with his previous estimate of 262,712,373 shares OS as of 14 April. I made this estimate in the 4 April blog.
5. Like an old record I will play this tune again. We need to see real financing and good production numbers on the COES. I do not expect to see a financing deal in the annual. However, I sure would like to be surprised. . .
Good Luck
SkunK
What to expect
As I have made the point many times, the economy is in a deep recession and the bio-diesel world is in a depression. I am not expecting to see roses blossom in a hurricane.
1. Cost cutting. With the Adrian biodiesel plant idled I expect to see cost cutting to the bone. We do not have the cash to operate as usual with no operational margins. From what was about 150 employees after the Next Diesel acquisition - I expect to see less than half of that today. 50-75 employees?
2. GS Design. I expect that GS Design will be reduced or absorbed into the Alpharetta, GA operation. With NO third party biodiesel plants being built. (Why build when you can buy for pennies on the dollar at foreclosure auction?) With not much of anything being built or expanded in the country - it would be hard to justify maintaining a metal fabricating plant. I suspect future COES will be contracted out and the construction will be supervised by Greenshift Technicians.
3. COES production. This report will include COES production through the end of the year. I wish to see three COES producing for the entire quarter. 1.3x.25=.325mmgy + 1.5 x 2 x .25=.75mmgy. Operating at 65% of capacity we should see 698,750 gallons of corn oil produced. With NextDiesel idled we will see lower margins per gallon, but selling to local plants we may see less transportation/operational costs.
4. Shares Outstanding. The SkunK will stick with his previous estimate of 262,712,373 shares OS as of 14 April. I made this estimate in the 4 April blog.
5. Like an old record I will play this tune again. We need to see real financing and good production numbers on the COES. I do not expect to see a financing deal in the annual. However, I sure would like to be surprised. . .
Good Luck
SkunK
Friday, April 10, 2009
Annual Report
A peculiar fact about today is "Good Friday" is one of the most sacred days of the Christian Calender. The SEC, being part of the secular federal government, enjoys ten holidays, none of them having to do with Easter. Therefore, the SEC and EDGAR the filing service, operates today. The New York Stock Exchange is a private entity and is free to observe whatever holidays it deems appropriate. Therefore, the New York Stock Exchange has observed Good Friday and has closed every year except 1898, 1906 and 1907. For a complete history on Exchange holidays see this:
http://www.nyse.com/pdfs/closings.pdf
Here are the Federal Holidays observed by the SEC:
Thursday, January 01, 2009
New Year's Day
EDGAR & SEC Closed
Monday, January 19, 2009
Martin Luther King, Jr. Day
EDGAR & SEC Closed
Monday, February 16, 2009
Presidents' Day
EDGAR & SEC Closed
Monday, May 25, 2009
Memorial Day
EDGAR & SEC Closed
Friday, July 03, 2009
Independence Day
EDGAR & SEC Closed
Monday, September 07, 2009
Labor Day
EDGAR & SEC Closed
Monday, October 12, 2009
Columbus Day
EDGAR & SEC Closed
Wednesday, November 11, 2009
Veteran's Day
EDGAR & SEC Closed
Thursday, November 26, 2009
Thanksgiving Day
EDGAR & SEC Closed
Friday, December 25, 2009
Christmas Day
EDGAR & SEC Closed
http://www.secfile.net/SEC_calendar.htm#Calendar%20of%20SEC%20Holidays
What does this mean?
Even though the market is closed, GreenShift could still file the annual report today with Edgar and the SEC. Like the SkunK mentioned in an earlier blog, today would be a good day to file a report with less than good news.
http://www.nyse.com/pdfs/closings.pdf
Here are the Federal Holidays observed by the SEC:
Thursday, January 01, 2009
New Year's Day
EDGAR & SEC Closed
Monday, January 19, 2009
Martin Luther King, Jr. Day
EDGAR & SEC Closed
Monday, February 16, 2009
Presidents' Day
EDGAR & SEC Closed
Monday, May 25, 2009
Memorial Day
EDGAR & SEC Closed
Friday, July 03, 2009
Independence Day
EDGAR & SEC Closed
Monday, September 07, 2009
Labor Day
EDGAR & SEC Closed
Monday, October 12, 2009
Columbus Day
EDGAR & SEC Closed
Wednesday, November 11, 2009
Veteran's Day
EDGAR & SEC Closed
Thursday, November 26, 2009
Thanksgiving Day
EDGAR & SEC Closed
Friday, December 25, 2009
Christmas Day
EDGAR & SEC Closed
http://www.secfile.net/SEC_calendar.htm#Calendar%20of%20SEC%20Holidays
What does this mean?
Even though the market is closed, GreenShift could still file the annual report today with Edgar and the SEC. Like the SkunK mentioned in an earlier blog, today would be a good day to file a report with less than good news.
If not today then by COB on the 15th
If we do not see the report today, we will see it by 6pm et next Wednesday the 15th. The SEC must have gotten the entire transmission from Edgar by 5:30pm et in order to receive that day's date.
"Companies may request a filing extension for their Form 10-Q's and 10-K's by submitting Form 12b-25 via the EDGAR system. By filing this form, a filer may gain up to 5 additional days to file Form 10-Q or 15 days to file Form 10-K. Companies have up to 24 hours after the original filing deadline to file Form 12b-25."
Good Luck,
SkunK
Thursday, April 9, 2009
The Technicals
Hard news has not been good coming out of the biofuels arena. Ditto that in biodiesel . Of course the technicals live in another world. Apparently, our technical bot assigned to track GreenShift likes the way the chart is setting up. It is now listed as a buy. The first resistance is about 4 times the current price. Take a look and make up your own mind.
Bollinger Bands
Bollinger Bands has closed above bottom band by 47.6%; Bollinger Bands are 86.2% narrower than normal.The narrow width of the bands suggests low volatility as compared to GERS.OB's normal range. The bands have been in this narrow range for 40 bars. This is often a sign that a market may be about to initiate a new trend.
Resistances
Resistance1: 0.0184 Resistance2: 0.0280
http://www.allotcbb.com/quote.php?symbol=GERS.OB
Good Luck,
SkunK
PS It is almost 1ET and we are way down on vol. If we stay below 500,000 for the day, my hunch is we see the annual today or friday. I expect the volume may dry up the day of, or the day before the release.
Bollinger Bands
Bollinger Bands has closed above bottom band by 47.6%; Bollinger Bands are 86.2% narrower than normal.The narrow width of the bands suggests low volatility as compared to GERS.OB's normal range. The bands have been in this narrow range for 40 bars. This is often a sign that a market may be about to initiate a new trend.
Resistances
Resistance1: 0.0184 Resistance2: 0.0280
http://www.allotcbb.com/quote.php?symbol=GERS.OB
Good Luck,
SkunK
PS It is almost 1ET and we are way down on vol. If we stay below 500,000 for the day, my hunch is we see the annual today or friday. I expect the volume may dry up the day of, or the day before the release.
Wednesday, April 8, 2009
NextDiesel owes funds, city says
The city of Adrian will seek legal action against Biofuel Industries Group for breaching a cost-sharing agreement.
The city entered into an agreement with Biofuel Industries Group to share the costs of making improvements on Beecher Street that included installing a left turn lane and a deceleration lane to NextDiesel’s driveway. Biofuel Industries Group was to pay for its portion through either a letter of credit or performance bond in an amount not less than $175,000.
“At this point, the major street fund is out of the money,” city administrator Dane Nelson said.
Nelson said the company put the funds into a restricted bank account. The company indicated the bank won’t release the money and can’t turn it over to the city, he said.
READ WHOLE STORY Here:
http://www.lenconnect.com/news/x549596922/NextDiesel-owes-funds-city-says
SkunK
The city entered into an agreement with Biofuel Industries Group to share the costs of making improvements on Beecher Street that included installing a left turn lane and a deceleration lane to NextDiesel’s driveway. Biofuel Industries Group was to pay for its portion through either a letter of credit or performance bond in an amount not less than $175,000.
“At this point, the major street fund is out of the money,” city administrator Dane Nelson said.
Nelson said the company put the funds into a restricted bank account. The company indicated the bank won’t release the money and can’t turn it over to the city, he said.
READ WHOLE STORY Here:
http://www.lenconnect.com/news/x549596922/NextDiesel-owes-funds-city-says
SkunK
Otter Tail Enters into Forbearance Agreement
Otter Tail Ethanol, Fergus Falls, Mn, the Ethanol plant with the 13th planned COES (in the last COES update), which was planned to be commissioned by 30 November 2009, has entered into a forbearance agreement. What that means is they requested and got some temporary relief from payments to their lenders. .
"To assist with relief of debt service payments and compliance with certain other covenants during the period of continued discussions with the Lender Group, the Company now has in place a forbearance agreement which includes deferment of principal and interest payments until May 1, 2009. The Company continues to evaluate the proposed equity offering documents and conditions, much of which is tied to the discussions with the Lender Group. The State of Minnesota has recently requested that certain references in the offering document be modified and has asked for additional information. This will require the Company to update the business plan and the offering materials to address the additional requests."
Here is the Newsletter
Here is the 8-K with more details,
Like many in the biofuels industry, they are having cash flow problems. The SkunK has already reported on the bankruptcy and pending auction of the Fulton Ny plant. My April 1st blog mentioned the covenant violations at RTE. The low fuel prices at the gas pump continues to hammer ethanol.
The biodiesel industry also continues to stagger, being hit with low demand, European Union tarriffs and absent margins.
SkunK
Saturday, April 4, 2009
March Volume
The volume was up in March. Way up. Nothing like a picture to really give you an idea of what the magnitude of the volume was. We were more than double last months all time high and well over ten times normal volume.
Unless you got 100/20 vision click here to see full size. . .
http://docs.google.com/Doc?id=dgzzx2hv_51fd7jv8hc
On November 19, 2008 our OS was was 89,809,764. Then 105,693,640 shares traded in the next 72 trading days. Next our OS was again reported through 6 March as 150,356,886 - or a total increase of 60,547,122 shares.
Using the original SkunK formula to estimate dilution - We would subtract out a normal trading day (150,000/day and then add in 70% of the increased trading.) Back checking this formula over the same dates we see [72x150,000 = 10,800,000. 105,693,640-10,800,000=94,893,640. 94,893,640x.70=66,125,548.]
You can see I was scary close - however I overestimated dilution by about 10%. I could reduce the 70% - but I do not think that is the problem. Since this tried and true method started - we have more than doubled our shares OS. Since we have more shares - we need to increase the normal shares traded per day to 266,635. (I will save you the algebra but lets see if its right) Back checking that again we see:[72x266,635=19,197,720. 105,693,640-19,197,720=86,495,920. 86,495,920x.70=60,547,144. Now we are within 22 shares of actual - since I did not use fractions to get my average daily trades - that's plenty close for SkunK work.
******
Now lets use this refined SkunK method to see how we finished the month of March.
Our last reported OS was through March 5th and was 150,356,886. There were 116,819,228 shares traded in March. Of those 107,983,041 shares were traded in the 18 trading days from the 6th until the end of the month. {18x266,635=4,799,430. 107,983,041-4,799,430=103,183,611. 103,183,611x.7=72,228,528. The SkunK estimates as of cob 31 March 2009 we have 150,356,886+72,228,528= 222,585,414 shares OS.
Using the original SkunK formula to estimate dilution - We would subtract out a normal trading day (150,000/day and then add in 70% of the increased trading.) Back checking this formula over the same dates we see [72x150,000 = 10,800,000. 105,693,640-10,800,000=94,893,640. 94,893,640x.70=66,125,548.]
You can see I was scary close - however I overestimated dilution by about 10%. I could reduce the 70% - but I do not think that is the problem. Since this tried and true method started - we have more than doubled our shares OS. Since we have more shares - we need to increase the normal shares traded per day to 266,635. (I will save you the algebra but lets see if its right) Back checking that again we see:[72x266,635=19,197,720. 105,693,640-19,197,720=86,495,920. 86,495,920x.70=60,547,144. Now we are within 22 shares of actual - since I did not use fractions to get my average daily trades - that's plenty close for SkunK work.
******
Now lets use this refined SkunK method to see how we finished the month of March.
Our last reported OS was through March 5th and was 150,356,886. There were 116,819,228 shares traded in March. Of those 107,983,041 shares were traded in the 18 trading days from the 6th until the end of the month. {18x266,635=4,799,430. 107,983,041-4,799,430=103,183,611. 103,183,611x.7=72,228,528. The SkunK estimates as of cob 31 March 2009 we have 150,356,886+72,228,528= 222,585,414 shares OS.
Here is a SkunK chart showing where we stand if my estimate is correct:
Unless you got 100/20 vision click here to see full size. . .http://docs.google.com/Doc?id=dgzzx2hv_51fd7jv8hc
*******
SkunK Prediction
Assuming we continue this rate of dilution {AND assuming that is what we have seen over the last 18 trading days} and assuming the Annual Report is released on 15 April and reports the OS as of the 14th - the SkunK will predict a reported OS of 262,712,373.
******
Now this SkunK prediction is based on what has happened in the most recent period that we have information for. Could this be wrong? Of course it could. When trends change, I can modify my math. But that is only after the fact. We should know soon enough how close my estimate is.
In my opinion I think it is obvious that those who claimed we had ANY significant dilution from mid-May to December 2008 were wrong. Just as wrong as anyone who thinks we have not had significant dilution since the first of the year. Ms. Miscalculation has shown no favorites in this stock!
This is all my opinion and everything here should be taken as such. Dah. As always, I expect if you ride my logic train at all, you will get off when it feels like I took a wrong turn.
Good Luck,
SkunK
Wednesday, April 1, 2009
RED TRAIL ENERGY, LLC COES Update
One Good Thing about our annual, annual extension. It gives the SkunK a chance to look over some of the Ethanol Plant 10-Ks. . .
This one is from RTE in Richardton, North Dakota. If you haven't spent any time on on highway 85 around Teddy Roosevelt's National Park, RTE is less than 200 miles to the GERS seed crushing plant.
Corn oil is mentioned throughout the 10-k, but with some variance. Look for yourself. These four quotes I will use as being representative.
(On the other hand, I run the risk of being accused of intentionally leaving something out - so I will have to publish the whole 61 pages of small print on my blog! APRIL FOOLS! I'll give you the link instead!)
"During 2008, the Company entered into an agreement to operate a third party’s corn oil extraction equipment to be installed in our Plant. Due to the downturn in the economy that occurred during the last six months of 2008, the third party we contracted with was unable to obtain financing for its operation until December 2008. The third party is still in the final processes of negotiating the financing and has received initial approval subject to certain conditions. As part of their financing arrangement, significant changes were made to the original contract we signed in March 2008. We are still negotiating certain aspects of the agreement with the third party. As of March 15, 2009, we do not know whether we will be able to reach an agreement on the contract terms nor whether the third party will be able to meet the conditions necessary for final approval of their financing." p. 3
AND
"Corn Oil Extraction – we are currently negotiating the terms of an agreement to add corn oil extraction equipment to our facility. At this time we are not certain whether we will be able to reach agreement with the counter party to the agreement. If we do reach an agreement, we project that the equipment will be operational during the third quarter of 2009." p. 22
AND
"Due to the nature of the agreement being negotiated, there are no commitments associated with our corn oil extraction agreement." p. 30
AND
"In an effort to diversify its revenue stream, the Company entered into an agreement in March 2008 to operate third party corn oil extraction equipment that will be added to its facility. The agreement has a term of 10 years commencing from the date when the equipment installation is complete. As of March 15, 2009, corn oil extraction equipment had not yet been installed at the Company’s facility. The third party that the Company contracted with ran into financing issues. Late in 2008 they received approval for their financing package contingent on certain conditions being met. As part of the financing arrangement, the terms of the original contract entered in to in March 2008 were changed significantly. The Company is currently in negotiations with the third party related to several of the terms that changed. We currently do not have a time frame for when the corn oil extraction equipment may be installed at our facility." p. F-22
Here is the link:
******
What does the SkunK think he learned from all this?
1. Lack of financing has put this COES back in play, negotiations are ongoing, "no commitments."
2. These 10 year contracts do not begin at signing - but rather at start up. With all the schedule slips - this is some "good news".
3. GE financing deal created "significant changes" to original COES contract.
4. After this was filed on 6 March: "Although the Company is otherwise in compliance with the ECCA Agreement, the ECCA Agreement is terminated.", negotiations continue with RTE.
Depending on how you see things, you will have to decide if RTE or us shareholders are out of the loop on number 4. Like usual, the answers we deduct in GERS-land are usually obvious (and opposite). So far the SkunK has either been right or wrong on all his predictions. lol
Good Luck,
SkunK
(Right now my gut tells me a 60% chance we will get the annual before the April 15th deadline-The extension will give you an opportunity to digest the other 10-ks in your portfolio. I like a Tuesday release for "good news" - so maybe around the 7th at COB. A "bad news" annual release might be a 10 April Friday release close to 5:30PM ET - late after hours and in conjunction with Easter Weekend.)
PS- ARE things still tough in Ethanol Country??? Read this excerpt from the RTE Annual:
"We have been notified by FNBO that we were in violation of certain of the covenants in our loan agreements at December 31, 2008 and that we were granted a waiver of these covenant violations. These include the covenants requiring a minimum working capital balance, minimum net worth and a minimum fixed charge coverage ratio."
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