Monday, August 9, 2010

Its GERSD!

The (1-for-10) Reverse Split will take effect at the open of business on August 10, 2010.
Tuesday!!!!
SkunK

". . . a company that has undergone a reverse stock split often gets the letter "D" attached to the end of its ticker symbol.  This letter is generally attached to the end of the ticker for approximately 20 trading days before it's removed."  Quoted from Here  (In our case 30 calender days)


ps.  EcoSystem Corporation (OTC: ESYR) - ESYR is a technology company that focuses on clean tech. designed to resolve compelling ecological challenges, while producing carbon neutral and negative products. The stock has been experiencing high volume and a strong up trend since last week. ESYR has hit a high of $.0037 so far today with no news.  SEE HERE

7 comments:

Lambertus said...

Whoooohooooooo, splt is active, now 0.0010

but....... they forgot to split the number of shares with ten, so for the moment we have an awesome account.....

Anonymous said...

Well, my account now reflects that I hold no stock... it didn't convert my GERS to GERSD so my account value is 0!!! Is this normally something that will update soon?

Anonymous said...

anyone else still waiting for their shares to split?

Anonymous said...

they must be releasing some big news soon, right...?

Anonymous said...

Seriously... this has been the most anti climactic day. We've been waiting and waiting for the R/S and the GREAT news we have all been hoping for - and NOTHING! It's like Christmas morning with no presents! :( Am I the only one who feels a little let down today?

Anonymous said...

yeah wtf is going on?

skunk? any insight?

Anonymous said...

On June 17, 2010, GreenShift Corporation and its subsidiaries signed a series of agreements with YA Global Investments, L.P. ("YA Global") to reduce and restructure GreenShift’s convertible debt to YA Global (the “Agreements”). The transactions contemplated by the Agreements were completed effective July 30, 2010.

Summary of Transaction

At the closing, three GreenShift-owned corn oil extraction facilities based on GreenShift’s patented and patent-pending technologies and GreenShift’s interest in a fourth facility was transferred to a newly formed joint venture entity, YA Corn Oil Systems, LLC (“YA Corn Oil” or the “Joint Venture Company”). In exchange, $10,000,000 of the convertible debt issued by GreenShift to YA Global was deemed satisfied. GreenShift will also receive a 20% equity stake in the Joint Venture Company and the right to receive 20% of the Joint Venture Company’s distributable cash upon the realization by the Joint Venture Company of a 20% internal rate of return on its invested capital.

GreenShift further agreed to provide management services to the Joint Venture Company for the ongoing operation and maintenance of the transferred extraction facilities in exchange for certain management and brokerage fees, as well as earnings-based performance bonuses to be paid in the form of up to another $6,000,000 in reduction of GreenShift’s convertible debt YA Global.

The transfers reduced the balance of convertible debt due from GreenShift to YA Global from about $43 million to about $33 million. This amount can be reduced further down to about $25.3 million upon realization by GreenShift of the performance bonuses noted above. In addition, the maturity date for the remaining convertible debt due from GreenShift to YA Global has been extended from March 31, 2011 to December 31, 2012.


The following is a summary of the transactions:

o Transfer Price. GreenShift transferred its interests in the UWCL Facilities to YA Corn Oil in satisfaction of $10,000,000 in convertible debt due from GreenShift to YA Global, and will, if certain additional closing conditions are satisfied, transfer its interest in the Riga Facility to YA Corn Oil in satisfaction of an additional $1,700,000 in convertible debt due from GreenShift to YA Global.

o UWCL Performance Bonuses. An additional $2,500,000 in convertible debt due from GreenShift to YA Global shall be satisfied upon the realization by the UWCL Facilities of $3,000,000 in annualized earnings before interest, taxes, depreciation and amortization (“EBITDA”); and an another $2,500,000 in convertible debt due from GreenShift to YA Global shall be satisfied upon the realization by the UWCL Facilities of $3,600,000 in annualized EBITDA.

o Riga Performance Bonuses. In the event that YA Corn Oil purchases the Riga Facility, an additional $500,000 in convertible debt due from GreenShift to YA Global shall be satisfied upon the realization by the Riga Facility of $545,000 in EBITDA; and an another $500,000 in convertible debt due from GreenShift to YA Global shall be satisfied upon the realization by the Riga Facility of $670,000 in annualized EBITDA.

o Equity Participation. GreenShift shall receive a 20% equity stake in YA Corn Oil and the right to receive 20% of YA Corn Oil’s distributable cash upon the realization by YA Corn Oil of a 20% internal rate of return on its invested capital.

 
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