Saturday, April 6, 2013

Restatement of 2011 10-K

On March 29, 2013, the Registrant's management concluded that the financial statements of the Registrant for the year ended December 31, 2011 that were included in the Registrant's Annual Report on Form 10-K for the year ended December 31, 2011 should no longer be relied upon. The conclusion was based on the discovery of a miscalculation in the Registrant's weighted average common shares - diluted on the Consolidated Statements of Operations for the year ended December 31, 2011.

See Here

SkunK

54 comments:

Anonymous said...

RISKS FACTORS ATTENDANT TO OWNERSHIP OF OUR COMMON STOCK


The resale of shares acquired by our lenders may reduce the market price of our common stock. We may be required to amend our certificate of incorporation to reverse split our common stock.


Our lenders own convertible debentures issued by the Company which permit our lenders to acquire Company common stock and resell it to the public. At the current market price, our lenders could collectively convert their debentures into over 90% of our outstanding common stock. It is likely that resale of shares by our lenders will reduce the market price for our common stock.


Existing shareholders may experience significant dilution from our issuance of shares to repay amounts due to holders of loans that are convertible into our common stock.


The issuance of shares on conversion of the convertible debentures held by our lenders will have a dilutive impact on our stockholders. As a result, our net income per share could decrease in future periods, and the market price of our common stock could decline. In addition, the lower our stock price is, the more shares of common stock we will have to issue as the debentures are converted on the basis of the contemporaneous market price. If our stock price is lower, then our existing stockholders would experience greater dilution.


Our current indebtedness and any future indebtedness could adversely affect our business and may restrict our operating flexibility. We may be forced to incur additional indebtedness in the future.


As of December 31, 2012, we had approximately $36 million in total debt and accrued interest. Our inability to incur additional debt could adversely affect our business and restrict our operating flexibility. While we have not current plans to do so, it is likely that the terms of any such new debt financing would include customary financial and other covenants, including liens on our subsidiaries and significant assets.


If our cash flow proves inadequate to service our debt and provide for our other obligations, we may be required to refinance all or a portion of our existing and future debt at terms unfavorable to us.


Our ability to make payments on and refinance our debt and to fund our operations and capital expenditures will depend on our ability to generate substantial operating cash flow. If our cash flows prove inadequate to meet our debt service obligations for future debt financings, we may be required to refinance all or a portion of our existing or future debt, to sell assets or to obtain additional financing. We cannot assure you that any such refinancing or that any such sale of assets or additional financing would be possible on favorable terms, or at all. If we raise additional equity or equity-related securities in the future, it may be dilutive to holders of our common stock.

Future sales of shares of our common stock or the issuance of securities senior to our common stock could adversely affect the trading price of our common stock, the value of our debt securities and our ability to raise funds in new equity offerings.


We may issue additional common stock, preferred stock or securities convertible into or exchangeable for common stock, in the future. Future sales of substantial amounts of our common stock or equity-related securities in the public market or privately, or the perception that such sales could occur, could adversely affect prevailing trading prices of our common stock and the value of our debt securities and could impair our ability to raise capital through future offerings of equity or equity-related securities. No prediction can be made as to the effect, if any, that future sales of shares of common stock or the availability of shares of common stock for future sale will have on the trading price of our common stock or the value of our debt securities.


Anonymous said...

It still is in the hands of the beholder as to which way this will play out. Some say it is a stock selling scam and some say it is a david versus goliath situation. Others may have no opinion, but will or will not go along fo the ride as a risky investment. If over 10% of my investments do well, I am not investing correctly because it is the 10% that hit which highly over pay the 90% I miss. I see this as a future hit. When is another question, but the management is solid in their convictions.

Anonymous said...

nobody is introducing his new alias dutch1 on ihub by talking to him self pro and cons...
Isn't "Dave Van der Griend" a dutch name? lfmao ;-D

Anonymous said...

Blow me :P

nobody123789 said...

D',

You have crossed the line in your search for shadows and intrigue -- you are truly demented -- seek help.

Anonymous said...

What did you expect, D? He's a basher through and through! Vander Greed is in constant contact with him and is providing a wide range of monikers for him to use so he can send the same twisted message over and over as if it were coming from a small army!

nobody123789 said...

You caught me. I am absolutely and solely responsible for the seven year demise in the PPS of this stock. I planned this campaign long before the ligation started as a cover to protect ICM from infringement of patents that did not exist at that time. I am all powerful, I am omnipotent -- I am magnificent. I am Caesar -- Hail Caesar!

Anonymous said...

You left out you are an A**hole!

nobody123789 said...

Did you mean Always Brilliant and Holy?

Slashnuts said...

nobody12378
eager to rush in and buy more shares at the bargain basement price

todu5613a
Good luck to the newbies as if they bought at bargain basement prices

greenshiftscam
buy some of these scam stocks at a bargain basement price

todu5613a
it cant seem to get out of the basement, make that sub basement.

todu5613a
With all this good news it should have already started its climb out of the basement.

todu5613a
get out of the sub penny basement

Slashnuts said...

nobody12378
You have crossed the line in your search

todu5613a
Many here are angry Kevin has crossed the line

greenshit2007
but now you crossed the line.

Anonymous said...

lool n0b0dy still duymb cant trade and keep bashing, never met big moron like that before, usualyl good b asher leave after stock down but he worst hahahah
trading book time suckkkkkkka

Anonymous said...

Blow me....Agian!

Anonymous said...

Question:

How can YA take assignment of the patents as collateral for a 30m debt while KK values them at no where near that much in the filings?

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Anonymous said...

maybe the stock would gain some interest if scottrade eg would correctly quote (.07) instead of apparently misstate the EPS for GERS (-.33):


Dear XXXXXXXXXXX:
 
Scottrade.com does not show that Greenshift Corporation (GERS) reported earnings since year 2007.  Generally, Scottrade.com is calculating EPS using the sum of the last two actual quarters and the estimates of the next two quarters.

XXXXXXXX
 

nobody123789 said...

They have their automated algorithms and are not going to change then to suit an investor.

Anonymous said...

thats not what their response says, so i guess they are lying? or is it you?

nobody123789 said...

Why don't you copy their response?

Anonymous said...

PPS goes up....nobody posts DOWNWARD pressure. Some things never change.

nobody123789 said...

Petal, and this must be Petal, because he is the one individual I know that cannot understand the difference between a trend and a single transaction -- one trade doesn't make or break a trend -- get it?

nobody123789 said...

Looks like Anony 9:30 is furiously trying to compose a "response" from Scottrade to cover his posted statement. Typical for members of the Hallelujah Chorus.

Anonymous said...

Some of us are not paid bashers like Nobody and actually have real money invested here. I for one, would like this investment to succeed!

nobody123789 said...

And it is disingenuous to describe one-hundredth of a penny as UP!

nobody123789 said...

That is also typical for members of the Hallelujah Chorus -- read sometime you do not like, label the author a paid "basher" and then the information or position just goes away. This is the behavior of five year-old children at play.

Anonymous said...

It's stupid to describe ONE sale of 50,000 shares as "Downward Pressure"! Especially when that sale was UP!

Nice try Basher Boy!

nobody123789 said...

If you could read the post, which was written for a fifth grader you would not come to that conclusion. I think the Skunk should put some links for remedial English courses, perhaps require a certificate of English competence before allowing these knuckle-dragging Neanderthals to clutter the landscape.

"Large blocks at the ASK -- downward pressure likely to continue."

Anonymous said...

Typical Basher behavior. Start calling names and divert attention away from his real purpose here.

nobody123789 said...

They are only "names" if used incorrectly with a pejorative and disparaging (do I need to sound out these adjectives for you?)intent. Since they are highly accurate your criticism is unfounded.

Anonymous said...

i posted their response where they say they do not show that GERS has reported earnings since 2007; yet they show the current OS and latest 10k and 10q, and, an EPS for the trailing twelve months (TTM) that has changed many times since 2007. i cannot reconcile these apparent inconsistencies. can you? honestly?

use some complicated mathematics to calculate the sum of the last two quarters for us.

stating what one does not know to be true is the same as stating what one knows to be false.

Anonymous said...

Lying is his specialty.

nobody123789 said...

Note to casual or new readers, the term "lying" is a used here by the disciples, members of the Hallelujah Chorus, or the Cadets of Euphoria to mean absolutely ANYTHING that is inconsistent with their view of the current fortunes of this stock. It is a convenient and time-tested strategy to distract objective interest -- don't be fooled.

Anonymous said...

Note to casual or new readers, the previous post is an attempt to discredit others.

How about using an algorithm to calculate pps, hahahahahahaa

Anonymous said...

n0b0dy still crying about negative side of traade, you learn how trade first sucker, time to get book, gers knows bottom and move the up...short stop soon and n0b0dy wife go long

Anonymous said...

if scottrade posted the EPS as more than that stated in the filings you would, of course, be asking the same questions.

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Anonymous said...

Since there have been less comments to BASH the last couple of days, Nobody has taken up a new source of income by posting the above stupid AD's. At least it's a new topic!

nobody123789 said...

It is curious that we have so many adherents of this stock that are unwilling to buy more at these historically low prices. Could it be that wisdom is now encroaching into their world view, or perhaps they do not have the courage of their convictions. But, you could argue that that there has never been a better time to buy more shares, to average down further -- IF you really believed that the PPS was going to recover any time soon. I am starting to believe that most no longer think this premise is true. Ah, that little two letter word of the English language -- it tortures us so.

Anonymous said...

Newswire-
Greenshift Corp. (GERS) won a summary judgement today against a large group of ethanol manufacturers nationwide. Those ethanol producers who also produce corn oil to be used in the production of biodiesel fuel using a competitors patent infringing equipment have been ordered to cease production of corn oil immediately pending a final court decision. more to follow....

Anonymous said...

nn0b0duy still bad basher hahaha

Anonymous said...

Apparently, some on ihub percieve being "condescending" as a personal attack. I agree! None of us who hope to make money here like being talked down to by some arrogant pretender!

nobody123789 said...

Petal,

Is your ego so small that you cannot be challenged?

Anonymous said...

Not really. I just don't like arrogant assholes.

nobody123789 said...

Sorry your "hopes" of making money here (in your lifetime) are being dashed. But those of us pointing out the problems have been more right than wrong as evidenced by the decline in the PPS over the years. Perhaps if the money was not so dear to you you would not feel so defensive. Perhaps the real issue is that you threw money into this that you could not afford to be without for many years? That is your problem. As for arrogant, that word applies only if I have been wrong and I have not.

Anonymous said...

Like I said........

Anonymous said...

Newswire-
Cardinal Ethanol in talks with GERS regarding licensing of it's patented method of extracting back end corn oil. Cardinal, who is one of the defendants in the patent litigation brought by GERS, does not want to lose additional revenue brought about by today's summary judgement ruling......

Slashnuts said...

nobody12378
Sorry your "hopes" of making money here (in your lifetime) are being dashed.

todu5613a
Maybe we will end up making money on this. Not in this lifetime

todu5613a
$10 will not be seen for GERS in your lifetime

todu5613a
Not in this lifetime. This is GERS

todu5613a
Wont happen in this lifetime

todu5613a
Wonder if we will ever see that in our lifetime.

todu5613a
Not in this lifetime as his main business is selling stocks

todu5613a
we expected to make a profit? Wonder if it will be in my lifetime.

todu5613a
Maybe I should sell some silver to buy more GERS. NOT in this lifetime.

todu5613a
Just wake me if or when this ever starts moving up during my lifetime

todu5613a
bashers would disappear, but that is not likely at least in this lifetime.

todu5613a
I do wonder if someday just one of his scams might work out and actually make sharholders money NAH not in this lifetime

todu5613a
A dividend will never happen in this lifetime.

todu5613a
THere are enough suckers here to last a lifetime

todu5613a
not in this lifetime unless it gets a major change in management

todu5613a
It will not happen in our lifetime

todu5613a
Not in this lifetime as why throw

todu5613a
the dream is over and reality sets in, it aint going to happen, not in this lifetime.

todu5613a
I started to say pay off the debt but then realized it will never happen in my lifetime

todu5613a
Not in this lifetime as long as those with the money keep the money.

Slashnuts said...

nobody12378
your hopes of making money here in your lifetime are being dashed

todu5613a
We have had our hoped dashed too many times already

nobody12378
But your hopes may be dashed

todu5613a
a few months later had his hopes dashed and he lost BIG money

nobody12378
your "expectations" may be dashed based on that history

nobody123789 said...

Slash -- the forensic anthropologist, is attempting to overlay two personalities on the basis of fractured statements (I guess he must be a psycho ceramic -- a cracked pot). Cute, very cute. This gives me no end of enjoyment and satisfaction as the soap opera "As GERS Twists and Turns" remains in reruns. I wonder if Slash realizes that his antics are the only source of jocularity we have had in quite a while? It is very poignant that Slash's self-exploitation is the only show in town now. Perhaps he realizes that he is the court-jester and is willing to sacrifice himself in this way in order to minimize the pain for the long term investor.

Slashnuts said...

nobody12378

OOPS! They just filled up the 0.0001 bucket

todu5613a

OOPS! after all the "good" news we still sit here on the bottom

todu5613a

with all this good news and increased income we would not be sitting at the same old pps

nobody12378

With all the good news the pps should have moved IF this was a "normal" equity.

todu5613a

so dont hold your breath

nobody12378

but folks hold your breath


nobody12378

I love gardening does that count?

todu5613a

well other than in my garden...Ok time to go play in the garden weedin and a hoein.

nobody12378

Two words -- Investor Confidence; lack thereof.

todu5613a

If a high dollar investor had confidence... or lack thereof.

nobody12378

Texas! Sounds too much like taxes.

todu5613a

Texas is a Republic... Actually thought about retireing there but cant afford the taxes.

nobody12378

if they are not able to ultimately prevail it is lights out for GERS.

todu5613a

Oh well last one out turn out the lights.

nobody12378

Sounds like a company concerned about its shareholders. NOT!

todu5613a

Been away for a few days and expected this to be over a penny by now. NOT!

todu5613a

now that we have more signed on we wont need the RS and the pps will go up considerably. NOT!


nobody12378

OOPS! The sells at 0.0001 just picked up.

todu5613a

OOPS! fell off back to .0001

nobody12378

Right now it feels as if we are waiting for our execution.

todu5613a

The waiting is worse than the execution.

nobody12378

I am responding to the unjustified hysteria that KK has righted the ship

todu5613a

cashing in on the hysteria...It is an exciting time watching this ship sink instead of righting itself.

nobody12378

Wouldn't that be a pleasant surprise?

todu5613a

IT will be a very pleasant surprise if we ever see a rise in PPS.

nobody12378

but I won't be bamboozled.

todu5613a

you've been bamboozled!

nobody12378

Need some new blood here

todu5613a
..to get new blood and..

nobody12378

Who would want to sell all those shares for less than the cost of a sheet of toilet paper...

todu5613a

Toilet paper is worth more.

todu5613a

The silence is deafening.

nobody12378

The silence is deafening.

todu5613a

it looks like massive dilution to me especially after the last RS.

nobody12378

Why would massive dilution at 0.0001 imply good news is coming out?

todu5613a

Actions speak louder than words and I see no actions to help shareholder value


nobody12378

Have you heard of the old saying, "actions speak louder than words"?

todu5613a

Greenshift or should I say Greenshifty ?

nobody12378

That did not happen before with previous Greenshifty

todu5613a

now that we have more signed on we wont need the RS and the pps will go up considerably. NOT!

nobody12378

Sounds like a company concerned about its shareholders. NOT!

todu5613a

So here we sit in limbo again.

nobody12378

I am sure that the pps will stay in limbo.

LMFAO Way Too Funny!

 
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