- Moderator: Paula Emberland, Business Analyst, Christianson & Associates PLLP
- David Winsness, Chief Technology Officer, GreenShift Corporation
Corn Oil Extraction: The True Impact on DDG Values - Pete Moss, Vice President, Marketing
Cereal Process Technologies, Fractionation: Optimizing Feed Market Options - Tara Vigil, Vice President, KATZEN International Inc.
Coproduct and Product Distinction: Carving out a Niche through Process Design and Operations - Joseph Riley, General Manager, FEC Solutions
Developing Long-Term Value for Extracted Corn Oil
WEDNESDAY, June 6
3:30 pm - 5:00 pm
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SkunK
No ICM Representative doing CoProducts this year. Hmmmm. They did it last year.
SEE HERE NEAR END OF PAGE
Brock Beach, Capital Sales Manager, Oil Separation Solutions, ICM Inc.
Next Generation Patent-Pending Corn Oil Extraction: Advanced Oil System
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2 comments:
There is a lot confusing here. The Q4 revenue is reported as only $2.8 million. Now go to the GPRE Q3 and 10K filings. GPRE corn oil segment revenue for the year was $44.8 million dollars. For the first nine months it was $30 million. That leaves $14.8 million for Q4, and the GERS share would be about $3 million. We know that GPRE is a significant portion, but only a portion of the GERS revenue stream and yet the GPRE derived portion of the GERS revenue is LESS than all the revenue reported by GERS. It could be that some of the above GPRE revenue will not show up until the GERS Q1 results are reported. If the obvious significant differential between GERS true revenue and reported revenue doesn't equilibrate then, both the 10K and 10Q1 filings will have to be considered as inaccurate.
The reason I suspect will be creative accounting in order to disguise the financial success GERS is enjoying for the purpose of supporting their litigation positions. ICM and the infringing companies can read SEC filings too. If this is what we find and at this time it is the most likely explanation for the disconnect between what is in the GERS revenue pipeline and what they are reporting, it will be another statement about the how little value is being placed on the GERS common shareholders. This timing; great revenues in Q3, not so great in Q4 would also parallel the news black out that I believe has occurred as a result of the attorneys taking control of all external communications.
I know that many think that my position on the level of control the attorneys have exercised is another form of what you call "bashing", but now that the Skunk is echoing this position it should give you all pause that that there is more going on here than is being allowed to meet the eye. Unfortunately, it is not in our short or mid term interest (relative to the PPS).
Woops, the above should have stated that GPRE portion is GREATER than GERS reported Q4 revenue.
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