Dear Shareholder:
The recent preferred share conversion was to facilitate debt repayment. Some and probably all of the common shares issued in that conversion will be canceled following repayment of debt.
Further, there is no plan to take GreenShift private. As previously disclosed, we are single-mindedly focused on value creation for our shareholders by increasing sales, achieving profitability, and repaying all remaining debt on cost-effective terms. Our ambition is to achieve our debt repayment objective with as little dilution to GreenShift's shareholders as possible, and to thereafter fully convert all preferred shares at favorable rates to all of our shareholders.
We have made a number of important strides this year, and we are confident that we will produce superior results during 2011 with respect to each of our stated goals.
Thank you for your continued interest and support.
Regards,
Kevin Kreisler
GreenShift Corporation
Friday, December 17, 2010
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27 comments:
Very interesting. Where did this come from? Other services and the GERS web site does not have it at this time. Good work on someones part.
thanks skunk!.....skunk must have a share holder question answered by KK...many thanks...
what does it mean?...we are not looking at 3 billion share structure?...what happens to the 10 billion shares exchanged fro debt?..how much of the company is owned by the debt forgiveness in exchange for those shares?
those 10 billion shares to pay for debt have not vanished...those shares to YAGI will still command their portion of the revenue..Correct? eg about 75% ..is this correct
Hey KK, how do I buy stock in your company? Do you offer any private placements?
Anything could happen, still.
He says, "There is no plan for a go-private".
Here's the rub ...
In a go-private, KK loses credibility amongst investors. Though he may end up pocketing some cash in a go-private at $0.0001 followed by a cash buyout, he walks around with a devil's pitchfork, rather than a halo on his head.
From an investor reputation standpoint, he becomes "The guy who got rich at the expense of Common Stockholders."
On the other hand, if he makes good on the Common Stock, as he appears to be pledging to do, then his reputation and his conscience emerge in much better shape.
Common Stockholders in GERS, at this point, may include schoolmates, family, friends, other investors that he wants to do his honest best for.
As a matter of fact, I recall that he, himself, bought some Common Shares with cash a while back.
So, in addition to his reputation and credibility, making good on the Common also boosts his net worth directly.
To reinforce this statement, it would beneficial to see another cash investment by KK or his family into the Common Stock.
How is Kissy Kitty doing? What about Kevin's brother and father? Have they been working lately, such that they could put more cash in right now?
I, myself, worked for the US Census Bureau earlier this year and after seeing this statement decided to put several hundred more dollars of my own hard earned cash in.
I now have 5,000,000 shares.
I have been in this stock for along time. I believe in the US system of capitalism and also the US patent system.
The piracy that is going on here is inexcusable, and I, for one, would like to see this thing through!!!
C'mon now. Who will join me in reaping the gains of the GreenShift Phoenix!!!!
God Bless America!!!!!
Here, here!
When I said "piracy", I meant "patent piracy".
Now, if we could just see some more equity investments by the Kreisler family, there would be more confidence restored in the stock.
$0.0001 is par value. So, we ought to be pretty close to the bottom, here.
This looks like great news. As I read it the new 10B of ordinaries will be cancelled when debt is repaid, so it's almost a hedge for YAGI in case of default. If that's the case the share o/s reverts to 3B after debt repayment and we've not been further diluted from where we were 3 months ago. Have I got this right?
Usually, a CEO's purchases are a good sign of a bottom in a stock.
Gud 'On Ya, Matey!
Welcome to the Good Ole USA, your friendly Northern Hemispheric Free Republic!!!
Home of capitalism, innovation, and lots of liberty loving folk!
Bottom line is we could see anything from a $0.0001 go-private all the way up to a $0.10 JP Morgan sponsored Preferred Stock placement!
Most likely something in between.
Which means that you are pretty close to the bottom of the range of outcomes, right here.
Plus, there should be lots of good news ahead on the fundamentals.
What we really need is for the Kreisler family to put some significant money behind today's Shareholder Letter.
That will really get things moving. A letter is easy to write. Its the money behind the mouth that counts!
Money behind the mouth, please, Kevin!
I have put over $400K into the Common to date.
Breaking News!!!!!
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aqmTGyGayOv4
Read all about it!
https://mail.google.com/mail/u/0/#inbox/12cf6335f48c3abf
The recent preferred share conversion was to facilitate debt repayment. Some and probably all of the common shares issued in that conversion will be canceled following repayment of debt.
How does the conversion to common pay off debt, and then be canceled?
Did this happen? Was there great rejoicing and dancing in the streets?
December 13, 2010 2:28 PM
Blogger JGTEX said...
The Tax Deal is the thing!
If this passes, the entire biofuels industry will get a quick shot in the arm of over $6Billion, cumulative.
There will be great rejoicing and dancing in the streets!
It happened after the close.
And, yes, figuratively speaking, I am sure that people in the industry are very happy about this.
It is worth about $6 Billion to the industry THIS YEAR and another $6 Billion NEXT YEAR.
Do you think we will see any movement upwards in Share Price finally?
I have looked every where for an official declaration of this letter. I have found none. The last shareholder letter came through an email from investor relations and I think also posted by several news services. This has not happened here. Mr. Skunk do you know where this came from? A letter directed to you or your blog??
Write investor relations or Mr. Kriesler an Email if you need future confirmation. Investors ask questions (and sometimes even get responses) all the time, skunk posts his.
This looks like a responsible company effort to squash rumors about going private and the purpose of the 10B shares before they got out of hand and I for one appreciate that.
It is obviously not a full blown shareholder letter. BTW dont they normally come out in January? Hope we get one, its long time before the next filing is due
I agree with Nobody - this is a big enough issue to warrant full disclosure. If the letter is genuine then it should have been released generally. Skunk can you vouch for the authenticity of this response. Who was the response given to?
The following was sent to GERS today.
Dear Sirs:
The following letter was posted on a popular Greenshift blog as written by the CEO of your company. Can you confirm that this was written by Mr. Kreisler? Thank you for your response.
Dear Shareholder:
The recent preferred share conversion was to facilitate debt repayment. Some and probably all of the common shares issued in that conversion will be canceled following repayment of debt.
Further, there is no plan to take GreenShift private. As previously disclosed, we are single-mindedly focused on value creation for our shareholders by increasing sales, achieving profitability, and repaying all remaining debt on cost-effective terms. Our ambition is to achieve our debt repayment objective with as little dilution to GreenShift's shareholders as possible, and to thereafter fully convert all preferred shares at favorable rates to all of our shareholders.
We have made a number of important strides this year, and we are confident that we will produce superior results during 2011 with respect to each of our stated goals.
Thank you for your continued interest and support.
Regards,
Kevin Kreisler
GreenShift Corporation
I received the following response directly from KK. The letter is confirmed as coming from him, his response to my email was "It was":
It was.
On Dec 22, 2010, at 9:24 AM, xxxxxxxxxxxxxxxx wrote:
> Dear Sirs:
>
> The following letter was posted on a popular Greenshift blog as written by the CEO of your company. Can you confirm that this was written by Mr. Kreisler? Thank you for your response.
>
> Dear Shareholder:
>
> The recent preferred share conversion was to facilitate debt repayment. Some and probably all of the common shares issued in that conversion will be canceled following repayment of debt.
>
> Further, there is no plan to take GreenShift private. As previously disclosed, we are single-mindedly focused on value creation for our shareholders by increasing sales, achieving profitability, and repaying all remaining debt on cost-effective terms. Our ambition is to achieve our debt repayment objective with as little dilution to GreenShift's shareholders as possible, and to thereafter fully convert all preferred shares at favorable rates to all of our shareholders.
>
> We have made a number of important strides this year, and we are confident that we will produce superior results during 2011 with respect to each of our stated goals.
>
> Thank you for your continued interest and support.
>
> Regards,
> Kevin Kreisler
> GreenShift Corporation
Thanks nobody - not that I doubted Skunk's word. I still don't understand why this was deemed not important enough for general release though.
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