I am the SkunKhunter. I hunt down SkunK stocks. Those are stocks that have been beat down past any reasonable justification. I try to ride the stock up as market forces eventually right the ship of PPS. A SkunK is not a herd animal. He is a scavenger who knows that arriving before the herd means big profits and clean shoes. This is the journey of the GreenShift Corporation. Updated weekly between COB Friday and Sunday evening. (Disclaimers on Bottom of Site)
Thursday, December 21, 2017
Withdrawal in the form of a Motion
Cantor Colburn LLP hereby moves for an Order allowing its withdrawal from this appeal as an Interested Party. In support of this motion, Cantor Colburn states that it has resolved its previously outstanding issues with Appellees through a settlement. As a result, Cantor Colburn seeks to withdraw from this appeal as an interested party. Cantor Colburn LLP’s withdrawal shall have no effect on the appeal by GS Cleantech Corporation and Greenshift corporation, which are represented by separate counsel.
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SkunK
A Cardinal's Confession...
ReplyDeleteDefendant, Cardinal Ethanol, prepares for a confession of judgment.
"Our operating agreement currently provides that the consent of a majority of the total outstanding membership units entitled to vote is required in order for the Company to confess a judgment in an amount in excess of $500,000. The Board of Directors has concluded that it is in the best interests of the Company to amend the operating agreement to remove this requirement and permit the Board of Directors the flexibility to enter into confessions of judgment on behalf of the Company as part of its authority to manage the business and affairs of the Company.
Accordingly, it is proposed that the Company amend Section 5.7(b) of the operating agreement as follows (crossed out language reflects the change):
(b) The Directors shall not have authority to, and they covenant and agree that they shall not cause the Company to, without the consent of a majority of the Membership Voting Interests:
(i)
Merge, consolidate, exchange or otherwise dispose of at one time all or substantially all of the Property, except for a liquidating sale of the Property in connection with the dissolution of the Company;
(ii)
(lined through)--->Confess a judgment against the Company in an amount in excess of $500,000;
Page 11...
https://www.sec.gov/Archives/edgar/data/1352081/000135208117000030/a2018proxystatement.htm
"DEFINITION of 'Confession Of Judgment' A written agreement signed by the defendant that accepts the liability and amount of damages that was agreed on. A confession of judgment is a way to circumvent normal court proceedings and avoid a lengthy legal process to resolve a dispute."
According to Cardinal's latest 10-K, the only pending "legal proceeding" is the patent infringement lawsuit. Therefor, the need for a "confession of judgment" can only mean one thing...
(bottom of page 18)
https://www.sec.gov/Archives/edgar/data/1352081/000135208117000026/cardinal10-kfye9x30x17.htm
Good Luck To All!$!$
Thanks Slash. The limit was eliminated. Not doubled or tripled as one would expect for normal administrative updates. I think it means exactly what it appears to mean.
ReplyDeleteGood find Slash
ReplyDeleteSo we know that any settlement amount will be over $500,000 or they would not have had to eliminate the $500,000 max.
ReplyDeleteI continue to be concerned that any possible settlement(s) will not find it's way to the common shareholder. Do we know if Kevin owns any common shares. I think he owns a bunch of preferred shares but how about common shares? Same question goes towards Winsness, Cantrell, YA Global, and Bitzio...
From their 2015 fling, latest I could find...
>>>>>>>>Stockholders’ Equity (Deficit):
Convertible preferred stock, $0.001 par value, 5,000,000 shares authorized:
Series B: 2,480,544 and 2,480,544 shares issued and outstanding, respectively 2,481 2,481
Series D: 0 and 855,101 shares issued and outstanding, respectively -- 855
Series G: 800,000 and 0 shares issued and outstanding, respectively 800 --
Common stock: $0.0001 par value, 2,500,000,000 authorized;
117,683,309 and 12,270,834 shares issued and outstanding, respectively 11,801 1,227
Additional paid in capital 137,975,673 122,475,526
Accumulated deficit (146,387,595 ) (162,195,891 )
Total stockholders’ equity (deficit) (8,396,840 ) (39,715,802 )
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 6,951,039 $ 2,081,761
I am very concerned as all common shareholders should be. I have been year for over 20 years and want to get paid for my supporting this great technology. Don't screw us Kevin.
Thanks for the DD Slash...
This comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteLooking Forward to a Very Eventful 2018...
ReplyDelete12/26/17
"Merry Christmas, Happy Holidays, And Happy New Year from our families to yours! We are thankful for a wild 2017 and look forward to a Very eventful 2018!!"
https://twitter.com/GenarexFDLLC/status/945760818397933568
Title of Invention: MULTIFUNCTIONAL BIOCOMPOSITE ADDITIVE COMPOSITIONS AND METHODS
The biopolymer of claim 2, wherein the fibers comprise wood fibers, agricultural fibers, flax fibers, hemp fibers, kenaf fibers, wheat fibers, soybean fibers, switchgrass fibers, grass fibers, fibrous waste from the paper or wood industries, fiberglass fibers, aramid fibers, carbon fibers, nylon, or combinations thereof.
In some embodiments, the DDS biocomposite additive or biopolymer can include up to 40% (HEMP) fiber.
Genarex
2017/0218,317
US
METHOD FOR PROCESSING BIOBASED MATERIALS AND THE RESULTING COMPOSITIONS
GENAREX FD LLC
Sep 30, 2015
Aug 3, 2017
Published
9284421
US
Thermoplastic compositions containing biobased materials and processes for forming an article therewith
GENAREX FD LLC
Aug 15, 2014
Mar 15, 2016
In Force
9346955
US
Multifunctional biocomposite additive compositions and methods
GENAREX FD LLC
Sep 25, 2015
May 24, 2016
In Force
8449986
US
Multifunctional biocomposite additive compositions and methods
GENAREX FD LLC
May 14, 2009
May 28, 2013
In Force
8765827
US
Multifunctional biocomposite additive compositions and methods
GENAREX FD LLC
Apr 16, 2013
Jul 1, 2014
In Force
9139627
US
Biopolymers and processes for making same
GENAREX FD LLC
Feb 15, 2013
Sep 22, 2015
In Force
8598256
US
Multifunctional biocomposite additive compositions and methods
GENAREX FD LLC
May 13, 2013
Dec 3, 2013
In Force
2017/0253,805
US
METHOD FOR MODIFYING BIOBASED MATERIALS AND THE RESULTING COMPOSITIONS
GENAREX FD LLC
Aug 4, 2015
Sep 7, 2017
Published
8809425
US
Multifunctional biocomposite additive compositions and methods
GENAREX FD LLC
Nov 22, 2013
Aug 19, 2014
In Force
2016/0168,340
US
THERMOPLASTIC COMPOSITIONS CONTAINING BIOBASED MATERIALS AND PROCESSES FOR FORMING AN ARTICLE THEREWITH
GENAREX FD LLC
Feb 10, 2016
Jun 16, 2016
Published
2013/0206,342
US
APPARATUS AND LOW TEMPERATURE PROCESS FOR PRODUCING DRIED DISTILLERS SOLUBLES
GENAREX FD LLC
Feb 15, 2013
Aug 15, 2013
Published
8772379
US
Multifunctional biocomposite additive compositions and methods
GENAREX FD LLC
May 13, 2013
Jul 8, 2014
In Force
9163142
US
Multifunctional biocomposite additive compositions and methods
GENAREX FD LLC
May 19, 2015
Oct 20, 2015
In Force
9439440
US
Biofertilizers and bioherbicides
GENAREX FD LLC
Aug 15, 2013
Sep 13, 2016
In Force
9034954
US
Multifunctional biocomposite additive compositions and methods
GENAREX FD LLC
Aug 14, 2014
May 19, 2015
In Force
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=135714249
https://youtu.be/2QoASBTPx_4
https://youtu.be/GFq0BlDGPHA
Good Luck To All!$!$