Wednesday, December 30, 2015

Long Side Ventures LLC stake in GERS

Not sure if this is so much a buy as it is a settlement.

See Here




nobody123789 said...

The Company issued a debenture in the amount of $250,000 to Long Side Ventures ("LSV") under the terms of the settlement agreement pursuant to which the plaintiff is to receive $150,000 in cash and a debenture in the amount issued during the nine months ended September 30, 2015. LSV shall have the right, but not the obligation, to convert any portion of the convertible debenture into the Company's common stock at a rate equal to 90% of the lowest closing bid price for the Company's common stock for twenty days preceding the conversion date. The debenture matures on December 31, 2018. During the nine months ended September 30, 2015, the Company recorded $1,147 in accretion as well as a reduction of $1,621 due to conversions during the period. The carrying value of the LSV Debenture was $251,734 at September 30, 2015, including principal of $232,925 and the value of the conversion liability. The present value of the liability for the conversion feature was $18,809 as of September 30, 2015. Interest expense of $10,601 for these obligations was accrued for the nine months ended September 30, 2015.

Anonymous said...

Anonymous said...

I give Kevin credit, he is doing everything he can to salvage this thing and is young enough to pull it off. From day one the science was good and the stable of patents reinforce this claim. Trouble is that the bigger money tried to plow this under so that the consortium was not affected. Bigger trouble lies ahead for all these ethanol producers now that crude is so cheap and Obama is heading into the sunset. But let's not forget, the patents are still valid and the infringement did happen. The appeal will ferret all this out. I thing with the new investor coming in, it is a good time to double down! I will be buying more this month.

nobody123789 said...

Good to hear from you again Kevin.

Anonymous said...

nobody123789 has no life and looks for friendship on this blog. Sooooo sad... Are you married? Loser!

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