On September 30, 2011, the Company’s chairman waived $411,061 in deferred salaries due from prior years, $138,001 in unreimbursed expenses, and $112,020 previously assigned to an employee of the Company. Various other related party employees waived an aggregate of $133,101 in deferred compensation from prior years, and one former employee (a family member of the Company’s chairman) agreed to accept payment of $92,337 in deferred salaries due from prior years in the form of restricted Company common stock at $0.11 per share. [Payment in stock at high end of today's market price - that is new] These transactions collectively reduced the Company’s liabilities by about $2.4 million at September 30, 2011. [I believe this real contribution is listed as "Gain (loss) on extinguishment of debt" - $2,204,238 under "Other Income" I think about another 200K was saved in future interest due to eliminating that debt and that is how we get to "about 2.4 million at Sept 30, 2011".]
P23
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These benefits correspond to increased ethanol producer income ranging from about $0.08 to more than $0.20 per gallon of ethanol produced, depending on the extent to which the producer uses our patented and patent-pending extraction technologies, and ethanol producer paybacks of less than 1 year at current market prices. [With that kind of payback for a one year return on investment - No wonder the market penetration estimates keep going up for corn oil extraction. Full market penetration of Method I in the next 2-3 years will be the economic reality in my humble estimation.] No technologies have been developed, commercialized and made available to corn ethanol producers in the history of the ethanol industry that begin to approach these results.
More than 15% of the ethanol industry has licensed our patented and patent-pending corn oil extraction technologies.
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SkunK
"A number of our licensees were in various stages of deploying or optimizing the performance of the systems needed to use our technologies as of September 30, 2011. Notwithstanding the impact of new license agreements that we may enter into or fluctuation in the market price for corn oil, we expect that our quarterly results of operations will continue to improve sequentially at least until the second quarter of 2012 as all of our existing licensees commence and achieve full production. In addition, future results may be improved by the impact of event-driven systems integration contracts as we have recently experienced a significant increase in interest for our engineering and other services in connection with the design, construction, integration and modification of corn oil extraction systems and other new systems for existing and prospective licensees".
ReplyDeleteTHE PIPELINE IS PRIMED!
this is a great day!..i hit the lottery!
ReplyDeleteyeah we are primed to go no where. this company is done!! read what you want. they been misleading people for years with sites like this and numbnuts
ReplyDeletelate filings... why? what are they paying people to do there?
no news?
settlement? please they will be bankrupted before that.. why settle attack attack attack.
Do a poll on how many R/S they do before the ATM is empty (7)they are on 4 now.
sad story
why bother .. good news only makes this stock drop lower... just admit it
ReplyDeleteAlert! Yahoo basher clowns have infiltrated the Skunk perimeter. Prepare for Skunk gassing.
ReplyDeleteDamn it Yul, you think they trailed Nobody12378 in, or did he bring them in? Can he be trusted?
ReplyDeleteCaptain, I say we dive to 1000 leagues below the sea, these low life basher sea scum creatures will be crushed by the pressure.
ReplyDeleteOnly an idiot follows blind non objective thinking. Only an idiot cannot distinguish between objective challenge and "bashing". Only a religious zealot kills for violation of the GERS Church.
ReplyDelete