Greenshift Corporation (GERS)

[jobynimble]

Two 8-K filings...

First one:

Item 1.01 Entry into a Material Definitive Agreement



On December 22, 2014 GreenShift Corporation, its subsidiaries and affiliates, Viridis Capital, LLC and YA Global Investments, L.P. (“YA Global”) entered into a Sixth Amendment to Second Global Forbearance Agreement (the “Amendment”). The Amendment recites that, as of December 15, 2014, GreenShift was indebted to YA Global in the principal amount of $12,280,612, plus accrued interest and expenses of $6,363,736, under an Amended, Restated and Consolidated Secured Convertible Debenture dated as of July 30, 2011 (the "Debenture"). In addition, GreenShift is indebted to various assignees of interests in the Debenture, for whom YA Global acts as collateral agent.

The Amendment recites that on or about December 12, 2014 YA Global became aware of certain events that are cause for termination of the Forbearance Agreement and enforcement of YA Global's rights in the event of default under the Debenture. Subsequently, Viridis Capital, LLC, the controlling shareholder of GreenShift, took certain actions as a result of the discovery of the termination events, including removal of certain officers and directors of GreenShift. The Amendment states that, in order to facilitate ongoing negotiations between GreenShift and YA Global, YA Global, for itself and its assignees, has agreed to forbear from enforcing its rights and remedies as a result of the termination events until January 31, 2015, unless another termination event occurs.

http://www.sec.gov/Archives/edgar/data/1269127/000109690614001731/greenshift8-k.htm


Second:

Item 8.01 Other Events



On December 19, 2014 Viridis Capital, LLC converted 7,161 shares of Series D Preferred Stock into one billion (1,000,000,000) restricted shares of GreenShift common stock. Kevin Kreisler, the sole director and CEO of GreenShift Corporation, is the managing member of Viridis Capital, LLC. The shares owned by Viridis Capital, LLC have been pledged to secure Viridis Capital, LLC's guarantee of GreenShift's obligation to its secured lenders.

Upon the issuance of the common shares on December 22, 2014, there were 1, 131,756,793 shares of common stock outstanding.

http://www.sec.gov/Archives/edgar/data/1269127/000109690614001733/greenshift8k.htm