Spent some time going through the Annual report and found some more things that at least interest me.
The Company paid $3,370,875 in debt using 2.4B shares since the beginning of the year. Debt reduced.
The Bolheimer & Associates purchase was rescinded and settled based solely on the $80,000 paid at the closing in 2008. Debt reduced.
The Company is "involved in various collection matters for which vendors are seeking payment for services rendered and goods provided." Debt that needs to be reduced.
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On page 47 - The Lakota COES is reported as "operational"
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Now this is really something. The SkunK reads that as many as 40 Ethanol Producers are infringing. It sounds like GreenShift plans to file a lawsuit on each of them. You read it and tell me what you see. I see additional lawsuits - lots of them.
"The Company estimates that as many as 40 ethanol producers are infringing the Company’s patents. ICM has not denied in its pleadings that its equipment has been sold and is being used in a manner covered by the patents. GEA Westfalia’s pleadings also suggest that it admits that the Company’s patent claims cover processes utilized by ethanol producers that have purchased GEA Westfalia’s equipment. Rather, both parties rely upon arguments that the Company’s patents are invalid based upon prior art that has been considered and rejected by the U.S. Patent and Trademark Office (“PTO”). The Company believes these arguments have been fully considered and rejected by the PTO. The Company intends to file additional lawsuits involving any and all infringing use of the Company’s patents. The Company’s position is that any infringing ethanol producer is liable for a minimum of reasonable royalties for any infringing use of the Company’s patented technologies beginning on the publication date of the ‘858 Patent. The Company intends to seek additional relief for instances of intentional infringement." p.54
SkunK
Monday, April 19, 2010
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3 comments:
With the focus on infringement litigation recently, the old GE deal that fell through last year has not been discussed much.
With GE's stock back up to $19, and the economy looking much better, is it possible that GE will come back to the table on COES???
The Gross Profit on 2.4 Million gallons of Corn Oil was ~$1.2 Million, or $0.50 per gallon.
That was during a year when Crude Oil Averaged about $60 per barrel.
This year, it looks like Crude Oil will average about $80.
I believe this translates to a doubling in the gross margin of GERS' corn oil sales to a run rate of about $2.44 Million.
Or, maybe it will go even higher, as this article suggests ...
http://www.istockanalyst.com/article/viewarticle/articleid/4045658
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