AMENDMENT NO. 1
This Amendment No.1 on Form 10-Q/A, which amends and restates items identified below with respect to the Form 10-Q, filed by GreenShift Corporation ("we" or "the Company") with the Securities and Exchange Commission (the "SEC") on November 22, 2010 (the "Original Filing"), is being filed in order to correct a typographical error on the cover of the Original Filing with respect to the number of shares outstanding.
As of September 30, 2010, the Company had 2,402,232,719 shares of common stock issued and outstanding. As of November 23, 2010, and as further disclosed in Note 16, Subsequent Events, in the Original Filing, the Company issued an additional 843,612,286 shares of common stock upon the conversion of debt, as well as an additional 10,000,000,000 shares of restricted common stock to Viridis Capital, LLC on November 19, 2010 upon conversion certain shares of Series D Preferred Stock. Viridis is subject to a lock-up agreement pursuant to which Viridis is prohibited from pledging, hypothecating, selling or in any way transferring its common or preferred stock in the Company including the shares described above. Thus, the Company had 13,245,845,005 shares of common stock issued and outstanding as of November 23, 2010.
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SkunK
hy·poth·e·cate:
To pledge (property) as security or collateral for a debt without transfer of title or possession.
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3:14-4:50 GERS COES
CliK PiK (Long Range Adv Tech)
GERS Patented Tech-MSNBC
Feedstock Conditioning!
Chairman, President & Chief Executive Officer, 37
So who will benefit from this relationship? Stay tuned to find out!
Project Manager, 2006-08 Greenshift Ethanol Conf Attendee, Alparetta, GA - About 28 years old
Rachael is a 1994 Graduate of Lakeside, a private Prep school in Seattle, WA. Rachael is a graduate of The University of the South, with a cum laude bachelor's degree in biological psychology and minors in fine arts and philosophy. One time IBM site designer, worked on Macy's e-commerce site and the redesign of the NYSE site. Founder of Kissykat and Candent Corp. As of March 31, 2008, the Company (GERS) owed Candent Corporation $757,853 (the "Candent Note"). The former president of Candent is the wife of the Company's chairman. All of the issued and outstanding capital stock held by Candent is in trust for the benefit of its former president. The note payable to Candent shall bear interest at a rate of 10% per year and matures November 8, 2010. (P. 21 1st Quarter)
I am the SkunKhunter. I hunt down SkunK stocks. Those are stocks that have been beat down past any reasonable justification. I try to ride the stock up as market forces eventually right the ship of PPS. A SkunK is not a herd animal. He is a scavenger who knows that arriving before the herd means big profits and clean shoes. This is the journey of the GreenShift Corporation. Updated weekly between COB Friday and Sunday evening. (Disclaimers on Bottom of Site)
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co2 Bioreactor
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Time Line for Patents
- 17 Aug 2004 Clean Tech filed first COES Provisional Patent Application “050”
- 2004 Inventors Disclosed Technology to ICM. ICM executed Confidentiality Agreement. ICM purchases two authorized COES.p3
- June 2005: Westfalia is still "developing" COES technology while ICM is finally installing the two COES bought from the Inventors the year before
- 2005 The Inventors invited Ethanol manufacturers to symposium to hear about COES – 30% attended.(SkunK's idea on which one)
- 5 May 2005 Clean Tech filed first COES Non-Provisional Patent Application “859”
- 23 Feb 2006 '858 patent publication date.
- 23 Feb 2006 '729 publication date
- 6 May 2009 GERS receives Notice of Allowance for first Patents
- U.S. Patent 7,601,858 issued 13 Oct 2009
- U.S. Patent 7,608,729 issued 27 Oct 2009
- 16 Feb 2010 Notice Of Allowance Issued For Third GreenShift Corn Oil Extraction Patent
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CHAIRMAN of the GERS BOARD
Mr Kevin Kreisler maintains his GERS stock through his holding company: Viridis Capital, LLC. Mr. Kreisler is a graduate of Rutgers University College of Engineering (B.S., Civil and Environmental Engineering, 1994), Rutgers University Graduate School of Management (M.B.A., 1995), and Rutgers University School of Law (J.D., 1997). Served as the Company’s vice president from 1998 to 2000, president from 2000 to 2002, chief executive officer from 2002 to 2005 and has served as the Company’s chairman from 2005 to the present. Admitted to practice law in New Jersey and the United States District Court for the District of New Jersey. Kevin Kreisler is the sole owner of Viridis Capital LLC; GreenSpace Capital, LLC; Incandent Capital, L.L.C. Mr. Kevin Kreisler is about 37 years old.
"Roots" of Greenshift
- Greenshift Corp - until present
- GS Clean Tech Corp - until 2-2008 - 1-50 Reverse Split 12Dec2007
- VERIDIUM CORP until 7-2006
- KBF Pollution Management Inc from 3-1996 until 10-2003 - 1-20 Reverse Split 21Oct03
- KBF Pollution Control Inc 1984-1996
- Kreisler Bags - then - Kreisler Bags and Filtration 1979-1984 (hence "KBF" above)
Technicians and Magicians Behind the Curtain
David Fred Cantrell - Graduate of the University of Georgia where he received a Masters Degree in Poultry Science and Statistics. Co-inventor of COE technology with Dave Winsness. Started: Cantrell Winsness Technologies LLC. Next: CEO of Mean Green Biodiesel. Works out of One Penn Plaza, NY?
Dan Lester - Project Manager, GS CleanTech. Past: Warnecke Design Engineer 2004-2007; Imagetech Inc. Engineer 2001-2004. Education: Devry University EET, Electronics Engineering, 1998 — 2001
Patrick Bush - GreenShift’s Vice President of Biodiesel Technology
Dan Page - Attended 2008 Ethanol Conference for Greenshift Corp from Alpharetta, GA.
Dan Saltzman - Controller Greenshift Corporation
Past: 2001 — 2004 Assistant Controller, New York Mortgage;
1989 — 2000 Assistant Vice President Financial Reporting, Scudder; 1984 — 1997 Bucknell University
Jacqueline Flynn - Controller of GreenShift Corporation since 2006. She is the Chief Financial Officer (CFO) and Chief Accounting Officer for ESYM/ADRN. She is also the CFO for CICS. She has twenty years experience in financial accounting for both public and private companies.
Mary J. Carroll - Worked in GreenShift Administration since at least December of 2003. Presently GreenShift Vice President of Administration.
John W. Davis - John "Whit" Davis, has a B.S. in Civil Engineering from the U.S. Coast Guard Academy and an M.B.A from Boston University. GS CleanTech's new Vice President of Operations (as of PR 22 Jan '07), has a broad base of diversified management, engineering, operational and business development experience. Mr. Davis led the deployment of GS CleanTech's existing Corn Oil Extraction System installations at Little Sioux Corn Processors and Glacial Lakes Energy. Most recently in his career, Mr. Davis was the technical director for special projects at Vortex Dehydration Technology, where he led product design, development and implementation for many applications of the technologies underlying GS CleanTech's Tornado Generator[TM]. Mr. Davis holds the rank of Lt. Commander as a reservist with the U.S. Coast Guard. (One of four original COES Inventors.)
Dan Lester - Project Manager, GS CleanTech. Past: Warnecke Design Engineer 2004-2007; Imagetech Inc. Engineer 2001-2004. Education: Devry University EET, Electronics Engineering, 1998 — 2001
Patrick Bush - GreenShift’s Vice President of Biodiesel Technology
Dan Page - Attended 2008 Ethanol Conference for Greenshift Corp from Alpharetta, GA.
Dan Saltzman - Controller Greenshift Corporation
Past: 2001 — 2004 Assistant Controller, New York Mortgage;
1989 — 2000 Assistant Vice President Financial Reporting, Scudder; 1984 — 1997 Bucknell University
Jacqueline Flynn - Controller of GreenShift Corporation since 2006. She is the Chief Financial Officer (CFO) and Chief Accounting Officer for ESYM/ADRN. She is also the CFO for CICS. She has twenty years experience in financial accounting for both public and private companies.
Mary J. Carroll - Worked in GreenShift Administration since at least December of 2003. Presently GreenShift Vice President of Administration.
John W. Davis - John "Whit" Davis, has a B.S. in Civil Engineering from the U.S. Coast Guard Academy and an M.B.A from Boston University. GS CleanTech's new Vice President of Operations (as of PR 22 Jan '07), has a broad base of diversified management, engineering, operational and business development experience. Mr. Davis led the deployment of GS CleanTech's existing Corn Oil Extraction System installations at Little Sioux Corn Processors and Glacial Lakes Energy. Most recently in his career, Mr. Davis was the technical director for special projects at Vortex Dehydration Technology, where he led product design, development and implementation for many applications of the technologies underlying GS CleanTech's Tornado Generator[TM]. Mr. Davis holds the rank of Lt. Commander as a reservist with the U.S. Coast Guard. (One of four original COES Inventors.)
Christopher Kennedy
Project Manager, 2006-08 Greenshift Ethanol Conf Attendee, Alparetta, GA - About 28 years old
Public History of the Keisler Family
The lovely Mrs. Rachael Kreisler
Rachael is a 1994 Graduate of Lakeside, a private Prep school in Seattle, WA. Rachael is a graduate of The University of the South, with a cum laude bachelor's degree in biological psychology and minors in fine arts and philosophy. One time IBM site designer, worked on Macy's e-commerce site and the redesign of the NYSE site. Founder of Kissykat and Candent Corp. As of March 31, 2008, the Company (GERS) owed Candent Corporation $757,853 (the "Candent Note"). The former president of Candent is the wife of the Company's chairman. All of the issued and outstanding capital stock held by Candent is in trust for the benefit of its former president. The note payable to Candent shall bear interest at a rate of 10% per year and matures November 8, 2010. (P. 21 1st Quarter)
Kreisler Family Involved in GERS
Lawrence M. Kreisler - Lawrence is the sole owner of Serenity Capital, LLC. Built Kreisler Bags, then Kreisler Bags and Filters, then KBF Pollution Control Inc., then KBF Pollution Management Inc. After 1-20 R/S Sept2003 company was taken over by Veridium Corp in Oct2003, controlled by son Kevin. Resigned, effective December 31, 2003, as an officer and director of Veridium Corporation. Continued to work at Veridium's Paterson, New Jersey based recycling facility, that was designed on recycling technologies he invented. His employment was terminated in July 2004 due to irreconcilable philosophical differences in how to best operate and grow that facility. Bronze Parachute included: 100 percent of his salary of $150,000 through December 31, 2004 and 50 percent of his salary through December 31, 2006. Medical benefits until the age of 65. Lawrence is about 61 years old.
Scott Kreisler - Scott is the sole owner of Cyrus Capital, LLC. Brother of Kevin Kreisler, listed as a Beneficial Owner of Veridium Corporation on 4/2/2002 SEC filings. The 2005 annual report also says: "During 2005, Scott Kreisler, brother of Kevin Kreisler, received salaries of $72,700. Scott Kreisler no longer works for the Company." In February 2006, Cyrus Capital, LLC, purchased from GCS Investments $500,000 in convertible debt issuedby GS Clean Tech. During the period ended March 31, 2006, Cyrus effected conversions totaling $280,000, corresponding to 14,000,000 shares of the Company's common stock. During the second quarter 2006 Cyrus effected additional conversions totaling $120,000 into a total of 6,000,000 shares of the Company's common stock.
Kathi A. Kreisler From a 3/30/2001 filing: Kathi Kreisler is a Co-founder of VERIDIUM CORPORATION and served as its President from 1984 through December 1994. She has been a director since March 1984. In January 1995, Ms. Kreisler became vice president, secretary and treasurer of Veridium Corporation. From 1979 to 1984, Ms. Kreisler was a principal in Kreisler Bags and Filtration, Inc., which name was subsequently changed to KBF Pollution Management, Inc. Ms. Kreisler is the wife of Lawrence Kreisler and is the mother of Kevin and Scott Kreisler. During 2005, Kathi Kreisler received salaries of $33,750. During December of 2005, Kathi Kreisler received 3,806,811 shares of the Company's common stock as a settlement of all severance liabilities.
MIF During the first quarter 2008, Minority Interest Fund (II), LLC ("MIF") acquired the Kerns $1,000,000 Debenture. In February 2008, MIF subsequently fully converted this debenture at the rate of $0.16 per share into 6,875,000 shares of Company common stock. The managing member of MIF is a relative of Kevin Kreisler. (p. 23 1st Qtr Rpt)
Scott Kreisler - Scott is the sole owner of Cyrus Capital, LLC. Brother of Kevin Kreisler, listed as a Beneficial Owner of Veridium Corporation on 4/2/2002 SEC filings. The 2005 annual report also says: "During 2005, Scott Kreisler, brother of Kevin Kreisler, received salaries of $72,700. Scott Kreisler no longer works for the Company." In February 2006, Cyrus Capital, LLC, purchased from GCS Investments $500,000 in convertible debt issuedby GS Clean Tech. During the period ended March 31, 2006, Cyrus effected conversions totaling $280,000, corresponding to 14,000,000 shares of the Company's common stock. During the second quarter 2006 Cyrus effected additional conversions totaling $120,000 into a total of 6,000,000 shares of the Company's common stock.
Kathi A. Kreisler From a 3/30/2001 filing: Kathi Kreisler is a Co-founder of VERIDIUM CORPORATION and served as its President from 1984 through December 1994. She has been a director since March 1984. In January 1995, Ms. Kreisler became vice president, secretary and treasurer of Veridium Corporation. From 1979 to 1984, Ms. Kreisler was a principal in Kreisler Bags and Filtration, Inc., which name was subsequently changed to KBF Pollution Management, Inc. Ms. Kreisler is the wife of Lawrence Kreisler and is the mother of Kevin and Scott Kreisler. During 2005, Kathi Kreisler received salaries of $33,750. During December of 2005, Kathi Kreisler received 3,806,811 shares of the Company's common stock as a settlement of all severance liabilities.
MIF During the first quarter 2008, Minority Interest Fund (II), LLC ("MIF") acquired the Kerns $1,000,000 Debenture. In February 2008, MIF subsequently fully converted this debenture at the rate of $0.16 per share into 6,875,000 shares of Company common stock. The managing member of MIF is a relative of Kevin Kreisler. (p. 23 1st Qtr Rpt)
The SkunK on the Big Picture Stuff
Capitalism
"This system is not bad, it is just how things have worked in every functional society since time began. Someone provides a good or service in exchange for receiving a good or service. Money just facilitates making change and keeping score."
Socialism
"A system where more goods and services are provided to those who provide less goods and services." Leads to less goods and services.
Communism
"Where the link to producing goods and services and receiving goods and services is severed. Outdated, shabby or no production follows. Leads in time to a robust Free Enterprise system - starting with a black market."
"This system is not bad, it is just how things have worked in every functional society since time began. Someone provides a good or service in exchange for receiving a good or service. Money just facilitates making change and keeping score."
Socialism
"A system where more goods and services are provided to those who provide less goods and services." Leads to less goods and services.
Communism
"Where the link to producing goods and services and receiving goods and services is severed. Outdated, shabby or no production follows. Leads in time to a robust Free Enterprise system - starting with a black market."
GERS CHART
Disclaimer
**Traditional SkunK Disclaimer.
Note: I am a shareholder - I do not work for, nor do I receive any direct or indirect payment from GERS or anyone associated with them. (But it would be Kapitalist Kool if I did) I will not intentionally mislead - but I can be wrong (ask Mrs. SkunK for specific frequencies) - so do your own due diligence - and take responsibility for your own financial decisions – (and your own life in general) good or bad. I do not give financial advice - I let you look at my dd as I try to make sense of it all and make MY decisions. Make your own! I have been rightfully accused of being a rather cheery, positive individual who laughs at every opportunity. These tendencies may cause me to overlook deficiencies in this stock that are painfully obvious to others. Celebrate today - and some good garage logic luck to ya.
SkunK
(Blogger formerly know as Skunk)
Disclaimer for those who need additional clarification. . .
My beliefs and the financial strategies discussed on this site are not to be used without proper financial analysis of your personal situation. Better yet, you do not have my permission to use them at all. I strongly suggest you seek help of a financial advisor or, even better, a Certified Financial Planner in order to assist you in any financial planning. I am not selling or advising you to buy any financial products. I am not selling or advising you to buy this stock or any other stock! I am just blogging about one of my favourite subjects! This is a hobby for me and should only be entertainment for you. You may analyse my opinions and determine if they suit you or not. I hope that your personal finance path to your goals will be covered with success and profit. Enjoy your reading.
Additional Disclaimer for the real knukleheads . . . .
Look, if your still reading this disclaimer and haven't figured out my name is SkunK and I don't know nothin' then you really need help. If you still want to blindly go out and do whatever some dude on the internet does then I can't help you. If you are not emotionally secure enough to suffer another's opinion - then turn the dang channel. Quickly seek a mental health professional! I am not one of them either!
Still do not understand? This is for the Lawyers (lol)
DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.
Note: I am a shareholder - I do not work for, nor do I receive any direct or indirect payment from GERS or anyone associated with them. (But it would be Kapitalist Kool if I did) I will not intentionally mislead - but I can be wrong (ask Mrs. SkunK for specific frequencies) - so do your own due diligence - and take responsibility for your own financial decisions – (and your own life in general) good or bad. I do not give financial advice - I let you look at my dd as I try to make sense of it all and make MY decisions. Make your own! I have been rightfully accused of being a rather cheery, positive individual who laughs at every opportunity. These tendencies may cause me to overlook deficiencies in this stock that are painfully obvious to others. Celebrate today - and some good garage logic luck to ya.
SkunK
(Blogger formerly know as Skunk)
Disclaimer for those who need additional clarification. . .
My beliefs and the financial strategies discussed on this site are not to be used without proper financial analysis of your personal situation. Better yet, you do not have my permission to use them at all. I strongly suggest you seek help of a financial advisor or, even better, a Certified Financial Planner in order to assist you in any financial planning. I am not selling or advising you to buy any financial products. I am not selling or advising you to buy this stock or any other stock! I am just blogging about one of my favourite subjects! This is a hobby for me and should only be entertainment for you. You may analyse my opinions and determine if they suit you or not. I hope that your personal finance path to your goals will be covered with success and profit. Enjoy your reading.
Additional Disclaimer for the real knukleheads . . . .
Look, if your still reading this disclaimer and haven't figured out my name is SkunK and I don't know nothin' then you really need help. If you still want to blindly go out and do whatever some dude on the internet does then I can't help you. If you are not emotionally secure enough to suffer another's opinion - then turn the dang channel. Quickly seek a mental health professional! I am not one of them either!
Still do not understand? This is for the Lawyers (lol)
DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.
When you're one step ahead of the crowd you're a genius. When you're two steps ahead, you're a crackpot.
--Rabbi Shlomo Riskin
First they ignore you. Then they laugh at you. Then they fight you. Then you win.
-- Gandhi
Remember the only reason the herd is on the move is because they finally figured out the last place they rushed off to was wrong! -- SkunK
Git your dirty feet off the furniture! -- Mrs. SkunK
--Rabbi Shlomo Riskin
First they ignore you. Then they laugh at you. Then they fight you. Then you win.
-- Gandhi
Remember the only reason the herd is on the move is because they finally figured out the last place they rushed off to was wrong! -- SkunK
Git your dirty feet off the furniture! -- Mrs. SkunK
SkunK's Free GERS Video Store
Posts
It just don't fit anywhere else!
SkunK's Public Library; Magazine Section
- June 2008 Bio-Diesel Mag - New Bio-Diesel method that can use corn oil
- Marion (3rd COE) site and COE/Biodiesel
- Dr. Bayless explains Algae process he sold to Greenshift
- Our Algae slime is 94% starch and 6% oil
- and the super "algae" comes from Yellowstone
- Biodiesel Nov 2006 - The Matchmaker
- Forbes Dan Fisher Article
- Distillers Grain Quarterly - 2007 1st Quarter - "COE Opens New Markets"
23 comments:
The CEO just took a huge position in the common stock! He traded his prefered shares for common, which he's restricted from selling for at least 1 year!
This is what everybody has been asking him to do, including todu!
NOTE 16 SUBSEQUENT EVENTS
Between October 1, 2010 and November 23, 2010, the Company issued a total of 843,612,286 common shares upon conversion of debt, as well as 10,000,000,000 shares of restricted common stock issued to Viridis Capital, LLC (“Viridis”) on November 19, 2010 upon conversion of 9,931 shares of Series D Preferred Stock held by Viridis, the Company’s majority shareholder. Viridis is subject to a lock-up agreement executed in favor of YA Global pursuant to which Viridis is prohibited from pledging, hypothecating, selling or in any way transferring its common or preferred stock in the Company including the shares described above.
Everthing is prepaid through the rest of 2010 and we'll be profitable after that. I'm seeing the light at the end of the tunnel.
All installments paid for 2010
In addition, installment payments are due to YA Global under the A&R Debenture at the rate of $800,000 per quarter during 2010 and $1,200,000 per quarter thereafter. The Company has made all installment payments due for 2010.
CAV debenture paid in full.
The CAV Debenture was paid in full during the nine months September 30, 2010.
The Company also prepaid royalty fees of $300,000 for future use of the Technology. The license fees were capitalized with $190,393 being amortized and included in the Company’s cost of sales for the nine months ended September 30, 2010.
13.3 Billion shares....so translated...the share price would now be reduced to say 1.25 divided by the five fold increase...so what maybe .25 if all goes well?
oh well, we loose...was to good to be true
i'm sure you are way ahead, but SkunK, why not ask the KK how many shares he possibly may relinquish once the company is profitable...can't hurt more than 13 trillion shares..right
otherwise, what end game for this over subscribed beast is possible...share reduction is about all that can improve price in a real way..otherwise we are talking years to get to 5 cents...right
oops so sorry..over a 7 fold dilution..not 6 as i mentioned..now we are at the total mercy of kk and his ethical compass...will he do the right thing and forsake and eliminate most of his 10B shares at an opportune moment in the not to distant future?...any ideas welcome...in other words, is this just some fancy wall street manuver that ends well for common share holders...or is it an other 7 fold dilution..and live with this abortion
why convert now? this is something MAJOR going on. In prep for a buyout?
KK still canot sell, but why convert? As preferred he was protected by dilution. As a common he is not protected from inflation of the shares. Why convert NOW?
Why does KK think it is better to be a common share holder NOW rather than a prefered shareholder? That is the question we need to ask! This may be good for common shareholders. BUYOUT? BUYIN? Something MAJOR is happening behind the scenes is my guess.
My Best Guess Is, It's A Buyout From GPRE.
This is how he gets paid.
Giving up prefered shares means giving up control of the company.
I've never seen him take a position in the common shares before.
But he has canceled and forgiven debt in the past.
"Viridis is owned by our chairman, MIF is owned by a family member of our chairman, and Acutus is owned by our chairman's attorney and former professor. These investors collectively provided us with a total of $5,429,833 during the year ended December 31, 2009 and the nine months ended September 30, 2010. In total, Viridis (along with our chairman personally and an entity held in trust for the benefit of our chairman's wife (the "Kreisler Trust")), MIF, Acutus and current management have provided GreenShift and its affiliated companies and subsidiaries with more than $14,684,532 between January 1, 2005 and September 30, 2010. Viridis, the Kreisler Trust and our chairman collectively loaned $8,427,257 of this amount, about half of which was subsequently canceled, forgiven and contributed to shareholders' equity."
$$$$
Here's the $86.4 million GPRE just raised that could be used for the deal.
http://finance.yahoo.com/news/Green-Plains-Renewable- Energy-pz-2796380289.html?x=0&.v=1
GPRE said the it's for
"the net proceeds to acquire or invest in additional facilities, assets or technologies consistent with its growth strategy."
Green Plains is already GERS #1 customer. With technologies like feedstock conditioning, corn oil extraction, CO2 eating algae, cellulosic oil, syngas gasification(synthetic diesel, ethanol, electricity)...why wouldn't they buy them out?
At current royaltys and 4% extraction on 657,000,000 gallons per year of ethanol, Green Plains of Omaha, Nebraska, will owe Greenshift $400,000,000 over the next 18 years.
Plus, GPRE continues to expand. Any new plants is that many more COES royaltys.
And Greenshift just said...
"In addition, we are currently in discussions with a number of producers with respect to new settlement and license agreements"
Greenshift has 1,200,000,000 (1.2B) gallons of ethanol under license. Green Plains(GPRE) is 55% of that. I do own shares in GPRE as well, at an average price of $7.18. I'm still kicking myself for not buying GPRE for $1.25.
Good Luck To All!
"The only conditions under which the Company would be required to redeem its convertible preferred stock for cash would be in the event of a liquidation of the Company or in the event of a cash-out merger of the Company."
Maybe the Y/A closing conditions are waiting on this?
i was an optomist...it is clear to me that KK has 10 BBBillion shares...he can afford a low exit price....one penny price times 10 billion...that will be it..like 130 million for the company and 100million to KK
"Cash-Out Merger Of The Company"
"The only conditions under which the Company would be required to redeem its convertible preferred stock for cash would be in the event of a liquidation of the Company or in the event of a cash-out merger of the Company."
Note 5 of the 10/Q.
Maybe the Y/A closing conditions/debt reduction are waiting on this?
"subject to satisfaction of certain closing conditions. The Company expects these closing conditions will be satisfied on or before December 31, 2010."
I mean maybe canceling some preferreds is part of the deal.
I believe Kevin is prohibited from selling the 10B common shares for a period of one year.
All of Greenshifts licensed customers will generate $480M at current prices, 4%, 18 years.
Method 2 is 6.5%, $785M
Method 3 is $1.2B over the next 18 years.
prior to todays surprise slaughter things looked remarkable...future earnings distributed over the 1.8 or even the 2.6 BILLION shares...what is good at all about todays Slaughter of KK having having 10Billion shares to grab the 75% share of earnings....splain it to me like i am a 4 year old...
Hi Anonymous. I guess I am confused by your statement. I realize that KK having 10B is not necessarily a good thing. However, my understanding of the situation is that he is not allowed to sell these shares for at least 1 year. Wouldn't you agree that if the company returns to profitability in less than one year, which it appears it might, then wouldn't you think that there is still an impending slaughter but that slaughter might be postponed. I would argue that it is possible that once probitability returns in the next couple of months that it could be desireable to sell your shares at that time? Do you disagree? If so , why?
so you will sell as the market cap gets fully valued to the 2 billion range....and who will bid the shares up...who will buy a company with this share structure...you are saying gers is a trade and not a real investment?..is that correct
Ananymous...Good point. I would agree with your last statement. If KK does own and is intending to dump his 10B shares at some point how in the world could the stock pps ever go up? I guess our fate will be sealed based on what he decides to do. I guess we will just have to wait and see. Happy Thanksgiving Everyone. I love all of your comments and good luck to us all!
test again
Ya..everyone have a great Thanksgiving..
My last report is rhetorical...Did no one with superior accounting and fundemental stock analysis skill eg the paper shuffle and Q reports ect...did no one say..Wow those preffered shares are the ultimate source of share structure dilution..Myself this is like a sheep to slaughter...it is a slaughter..gers will never trade to a market value of its great technology..never
Some crazy shady stuff is definiately going on. As of right now you can only sell GERS on Scottrade. You can't buy any more of GERS stock via Scottrade. Shady indeed!
KK converts so he can suck the dividend stream by diluting the rest of us. Preferred shares often have different dividend structures so by converting, he now gets those, if there ever is a dividend. And, in the event of a sale, he gets all shares in one category so new buyer buys only one class, not 2 and has to pay different prices for each. And KK can take capital losses on regular shares for tax avoidance.
KK is looking out for KK, not GERS investors. This train is about off the cliff and we'll get nothing.
If somehow KK can convince GPRE to buy them, KK stands to get a huge payout and is likely first in order of security. But I can't imagine GPRE paying full price for this loser. Still losing $8M on double the sales! GPRE didn't get to where they are being stupid!
1,826,864,030 to 13,245,845,005 shares, this is another massive dilution of our shareholder value by a factor of 7.25 !!
Next station is a share price of $ 0.0001 again, and than <<< surprise, surprise >>> another resplit, this time maybe 100:1
This is burning shareholder value for only one intention - to keep the cash machine (for KK) alive!
Even if the highlighted aims of GERS are reachable, what's the use anyhow! When your share is diluted to nearly nothing. By now KK is getting all the money, peanuts for the rest of us.
Of course you can reinvest more money after resplit, to stay in business, or to feed KK's cash cow for another time ;-) ...
S.
I wil repeat my rhetorical question...Did no one forsee the use of the preferred shares in this massive dilution of share value PRIOR to it occuring yesterday...
we all knew of those shares and people NOW,too late, report exactly on how those shares work...I was nieve i supose...this seems like one big wall street hussle...
Skunk any input or opinion at this point more than welcome..in your big buisness accounting experience are there any scenarios you envision to allow sharrholders some value out of this?...I would take a penny a share in a second at this point...translation, is the company worth 130 million to someone eg a penny a share
I have heard no shares on the buy side allowed on wed...first does anyone know if true....if so what does it mean when only sellers are allowed...
and yes i am very upset over this speculation...it appears to be a total loss...i would appreciate ideas and not thingy statements like..yup its a looser..ect...
i admit it is a little late to panic,but i am indeed feeling totally lost and dazed..
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