Well - this ain' no Cardinal. But I told you I had a couple surprises waiting for me when I got back from vacation. We have had so much GERS news that I have been remiss. This here partridge fellow though he could fly through my bedroom window. If being winter - the window was closed. Now we have a bunch of windows facing south each like 5X5. They are sliders with a screen on half. We got little birds bouncing off all the time like baseballs off the lead milk bottles at the fair. This big guy had some steam built up, picked the unscreened portion and got through the first pane of glass. Although the second pane held, the first one must have exploded! What a mess. Large chards still in the snow bank outside - hope I don't forget the next time I blow snow! Enough about that poor bird!
It appears Cardinal is/was well aware of the GreenShift letter, the GreenShift patents and the possibility of being forced to pay damages. The SkunK just found this statement in Cardinal Ethanol's 10K filed 2009-12-28.
"We may be subject to litigation involving our corn oil extraction technology. We have received written correspondence from GreenShift Corporation asserting its intellectual property rights to certain corn oil extraction processes we obtained from ICM, Inc. in August 2008. The correspondence from GreenShift indicates that it will seek to enforce its patent rights against ICM and the Company. According to information available through the U.S. Patent and Trademark Office, certain patents have been issued and other patents will be issued to GreenShift. If GreenShift files an intellectual property infringement action against the Company, GreenShift will likely seek damages from the Company. If GreenShift pursues an intellectual property claim against the property, we may incur significant expense in defending such claims and if GreenShift is victorious we may be force to pay damages to GreenShift as a result of our use of such technology." p. 17 - bottom
"We may be subject to litigation involving our corn oil extraction technology. We have received written correspondence from GreenShift Corporation asserting its intellectual property rights to certain corn oil extraction processes we obtained from ICM, Inc. in August 2008. The correspondence from GreenShift indicates that it will seek to enforce its patent rights against ICM and the Company. According to information available through the U.S. Patent and Trademark Office, certain patents have been issued and other patents will be issued to GreenShift. If GreenShift files an intellectual property infringement action against the Company, GreenShift will likely seek damages from the Company. If GreenShift pursues an intellectual property claim against the property, we may incur significant expense in defending such claims and if GreenShift is victorious we may be force to pay damages to GreenShift as a result of our use of such technology." p. 17 - bottom
(For you early birds the SkunK had the wrong link - thanks to a reader for catching it - this one should be good)
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The SkunK wanted to know how the whole corn oil extraction thing was working out for Cardinal and found this in the 1oQ that just came out 2010-02-11
"Corn oil represents an additional revenue source for us. Our corn oil sales increased in the three month period ended December 31, 2009 as compared to the same period in 2008 as a result of increased production in the three month period ended December 31, 2009. Our corn oil extraction equipment was not operational until November 2008, part way through the three month period ended December 31, 2008. We are continuing to fine tune the operation of our corn oil extraction equipment and find ways to operate this equipment more efficiently." p. 17 bottom
"Corn oil represents an additional revenue source for us. Our corn oil sales increased in the three month period ended December 31, 2009 as compared to the same period in 2008 as a result of increased production in the three month period ended December 31, 2009. Our corn oil extraction equipment was not operational until November 2008, part way through the three month period ended December 31, 2008. We are continuing to fine tune the operation of our corn oil extraction equipment and find ways to operate this equipment more efficiently." p. 17 bottom
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The SkunK thinks the many small Greenshift investors and the inventors of the Corn Oil Extraction System patents would sure appreciate their business - and could help them operate their equipment more efficiently . . .
SkunK
The SkunK thinks the many small Greenshift investors and the inventors of the Corn Oil Extraction System patents would sure appreciate their business - and could help them operate their equipment more efficiently . . .
SkunK
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