GERS closed 100% up yesterday on 78 million shares! This could have been exciting if it meant something other than that the price at the close was $0.0002. Assuming all trades were buys at $0.0002 the dollar volume for the day would have been about $15 thousand.
See Article Here
SkunK
PS. Whether you agree or disagree with everything the author says, you might want to vote for (or against) the article at the arrows in the title. Large interest in the subject will likely generate more coverage. Something we can (nearly) all agree on . . .
Wednesday, June 29, 2011
Subscribe to:
Post Comments (Atom)
Posts
3 comments:
Factual in many respects and in error in several facets. Interesting that neither GPRE or Sunoco contracts , or the recent USPTO findings were mentioned.
From WCSSTORE on IHub
Dear Shareholder:
There have been no material developments with respect to the status of the restriction placed on electronic transfers of GreenShift common stock by The Depository Trust & Clearing Corporation ("DTCC").
DTCC previously requested information from GreenShift pertaining to its prior issuance of common shares upon conversion of convertible debentures previously purchased by various investors. GreenShift has provided all of the information requested by DTCC as well as an additional opinion of GreenShift's securities counsel confirming the valid issuance of all common shares upon payment of GreenShift's convertible debentures. DTCC staff has advised GreenShift's counsel that the restriction on electronic transfers of GreenShift common stock was temporary and would be lifted upon receipt and review of requested information. We understand that DTCC is conducting similar reviews of a number of issuers and has not yet completed its review of the information we provided despite GreenShift’s prompt response to their informational request. The latest update received from DTCC is that they continue to work through the issue internally.
GreenShift is a fully reporting company in full compliance with all applicable rules and regulations. We are not aware of any basis for DTCC's actions in this regard except for what DTCC staff has termed a routine compliance check. DTCC is not a regulatory or governmental body and has not published any standard or time limit for their ongoing review. We intend to continue to press DTCC for timely completion of its review.
The DTCC restriction extends solely to electronic transfers of GreenShift stock, and not to physical transfers of stock. We understand this distinction to be analogous to restricting deposits of wire transfers but allowing deposits of checks. We understand that the procedure for physical transfers starts with advising your broker to request "X-clearing" when transferring shares.
A number of GreenShift shareholders have reported that some brokerage firms have separately restricted investment activity involving GreenShift common stock. We are not aware of any reason for these actions except to note that transfers of physical stock certificate are both more costly and more time consuming as compared to electronic transfers. The expense and/or the length of time until delivery may be the reason for the actions of such firms. Shareholders encountering this issue are encouraged to contact their broker directly for additional information. Note that some shareholders have recently reported working through this issue by working with one or more different brokerage firms.
Please do not hesitate to contact us at investorrelations@greenshift.com if we can be of further assistance in resolving this matter.
Regards,
GreenShift Corporation
I am jlglex, who was quoted in the article referenced in this blog entry.
I have replied to the article on the HotStocked.Com website, and my reply should be available on the HotStocked.Com message board soon.
Suffice to say, for now, that the author's concerns about GERS are reasonable, given that he has apparently read only the financial statements and not the accompanying footnotes and/or management discussion and analysis.
I informed him, in my post, that a more careful study of the footnotes and management discussion, as well as other public sources of information - including but not limitted to the public information of GreenShift's customers - would reveal the substantial backlog of signed contracts that stockholders are eagerly anticipating.
I further informed him that the backlog of existing contracts should be more than adequate to satisfy GreenShift's creditors and to enact a substantial stock repurchase plan that would drive the stock price higher.
At this time, the HotStocked.Com message board feature is disabled, for reasons unbeknownst to me. I assume that my post will become visible, as soon as that technical glitch is repaired.
Good luck to all.
JLGLEX
5+ Year Veteran Greenshift Stockholder.
Post a Comment