CleanTech has not filed any additional lawsuits alleging infringement of U.S. Patent 7,601,858 (the “`858 patent”), but CleanTech reserves the right to file such additional lawsuits alleging infringement of the '858 patent.
SEE HERE
SkunK
Thursday, November 25, 2010
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Keep in mind Greenshift has other fires to put out. See Here:
http://www.lenconnect.com/news/courts/x1743703969/New-claims-delay-trial-in-biodiesel-plant-suits.
"Prefered stockholders may convert to common shares in connection with a merger."
■Preferred stock (non-participating) - 10,000 shares - $1 million invested with a 2X liquidity preference
■Common stock - 90,000 shares
■Company being sold for $74 million upon liquidation
In this example, preferred stock holders will receive $2 million upon liquidation ($200 per share). The remaining $72 million is distributed among the common stockholders for a distribution of $800 per share.
Since the holders of common stock would receive more per share than holders of preferred stock, holders of preferred stock would be better off converting their shares into common stock and give up their preference in exchange for the right to share pro rata in the total liquidation proceeds."
"This exchange can occur at any time the investor chooses regardless of the current market price of the common stock. It is a one way deal so one cannot convert the common stock back to preferred stock."
"Occasionally companies use preferred shares as means of preventing hostile takeovers, creating preferred shares with a poison pill or forced exchange or conversion features that exercise upon a change in control. Some corporations contain provisions in their charters authorizing the issuance of preferred stock whose terms and conditions may be determined by the board of directors when issued. These "blank checks" are often used as takeover defense (see also poison pill). These shares may be assigned very high liquidation value that must be redeemed in the event of a change of control or may have enormous supervoting powers."
http://www.startupcompanylawyer.com/2007/07/15/when-should-preferred-stock-be-automatically-converted-into-common-stock/
Interesting article here about the conversion of preferred shares to common....
...and how it amounts to 'smoke and mirrors' - and gives the entity a seemingly improved assets-to-common equity ratio....
http://tinyurl.com/czx45g
Thoughts?
I believe GERS will come through for us.
I own A LOT, but I like to do a lot of research, and am playing devil's advocate here with those who call it a scam...
You know what anonymous..I like you style. At the end of the day we have all of these nay sayers, but the truth is noone knows what is going to happen until something ACTUALLY happens. I pray that this comes through too, but who doesn't. Thanks for the article. It was interesting reading. Good luck to us all and FOR CRYING OUT LOUD - hopefully the nay sayers can turn it down a notch
Ameritrade said that a pending merger could be the reason for the inability to buy stock in GERS right now. They said Greenshift is the reason for the restriction.
Here's the $86.4 million GPRE just raised that could be used for the merger/buyout.
http://investor.gpreinc.com/releasedetail.cfm?ReleaseID=526736
GPRE said the it's for..."the net proceeds to acquire or invest in additional facilities, assets or technologies consistent with its growth strategy."
One of the only conditions under which Greenshift would be required to redeem it's convertible preferred stock would be in the event of a cash-out merger of the Company.
"Prefered stockholders may convert to common shares in connection with a merger."
I found this interesting. It's an E-mail from Global Ethanol. I guess they were close to a merger with Greenshift. Now that GPRE has purchased Global and they just raised $90 million, I can't help but wonder if they'll merge or buy GERS out.
It would make a nice fit and save them money in the long run.
"I have my answer from Global Ethanol Services about why Global thinks Greenshift is crucial to their mission:
From: Shannon Kujawa
To: xxxxxxxxxxxxxxxxxxx
Sent: Wed, 28 May 2008 12:49 pm
Subject: RE: Greenshift corporation
The CEO has stated that it is crucial because we are POSSIBLY on the verge of merging with them at this time. They are still in discussion at this point. We do not have anymore public information
then that."
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?
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.
" We are also currently evaluating opportunities for additional debt reduction."
"In addition, we are currently in discussions with a number of producers with respect to new settlement and license agreements"
If you're trading this stock, I would think twice about selling because I don't think you'll be able to buy back in.
Greenshift was real quite about the GPRE deal. They didn't even issue a press release other than what GPRE released. This hush-hush behavior is another indication that there's a big deal going on behind closed doors.
Good Luck To All!
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