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Any of them
Accordingly, the Company filed formal notice of default on June 30, 2019, alleging several events of breach, material misrepresentation,
fraudulent inducement, and irreparable harm. The parties subsequently negotiated a settlement agreement calling for
the payment by Attis to the Company of $3,000,000 in cash, the cancellation of the Attis Debenture, and the return of
100% of all right, title and interest in, to and under the equity of FC in exchange for the Company’s agreement to
execute a release of all claims against Attis and its affiliates. However, Attis there again failed to perform as agreed
and, effective February 17, 2021, the Company issued formal notice of termination to Attis, including a demand for
payment of outstanding amounts due under the SPA and related transaction documents, and restitution of all amounts
Attis received in connection with FC and its intellectual property rights. Attis has ignored the Company’s demand and
appears to have discontinued operations. Management is evaluating the Company’s rights and remedies in connection
with all matters involving Attis, and is unable to characterize or evaluate the probability of any outcome at this time.
Possible legal battle with Greenshift over Flux Carbon aswell. According to the GERS filings.
I've never heard of a non-dilutive convertible preferred before. The explanation behind that one should be fun to read.
Perfectly put. Just curious as to whether or not Kevin will be involved in "the new company." Sort of sounds like he'll be full time LODE now. Anyone have insight on Paul Riss?
-Key Points, from what I understand-
--GERS financials have been sent to OTC Markets.
--Information will show up here assuming the statements are accepted ->
https://www.otcmarkets.com/stock/GERS/overview
--Greenshift is now CleanTech Alpha Corporation.
--CleanTech Alpha will not be acquired nor will its intellectual property, KK has tried.
--CleanTech Alpha will pursue further litigation which current shareholders will have no part in.
--The alternative path to liquidity for current GERS shareholders is receiving restricted preferred stock in Pervasip Corporation representing 85% of Pervasips outstanding equity.
--This restricted preferred stock will be issued at a premium to Pervasips current market price and this share swap will occur as a part of Pervasips recent acquisition of Artizen Corporation, after certain requirements have been met.
--Pervasip owns 100% of Artizen Corporation effective September 1st, 2021.
--The deal is structured as follows: In exchange for 850,000 shares of a newly issued restricted preferred stock (what GERS shareholders will receive, representing 85% of Pervasips outstanding equity) Pervasip receives 100% equity interest in Artizen Corporation. Pervasip Series E, F, & G preferred shares will be exchanged for the newly issued restricted preferred stock and no further changes to Pervasips share structure will occur for the next 3 years, unless approved by shareholders. The E shares gave voting control and the F & G Shares were convertible into more than 90% of the company's issued and outstanding voting and other stock. (Sounds like we may receive voting rights which would be cool?)
--What is Preferred Stock you ask?
- Here's a wiki page, because I don't have time to lay out all the different flavors and complexities -> https://en.wikipedia.org/wiki/Preferred_stock
--What is Restricted Stock you ask?
-Restricted stock is stock of a company that is not fully transferable until certain conditions have been met. Upon satisfaction of those conditions, the stock is no longer restricted and becomes transferable to the person holding the award (that last part is us).
Oh and here are some videos -
12%-15% Margins, 25% stake in the business through Pervasip, $600,000 in annualized profit going to GERS, $0.03 eps?
Very rough estimate.
How many shares are outstanding?
To me, all the signs are there that the company is bringing it's filings up to date.
I partially agree. Everything I've read points to less liability for poor shareholder returns.
Is this viewpoint wrong and why?
I do have GERD, so it might just be that. My therapist said I'm just excited though and prescribed me some breathing exercises. "Breath in, breath out. Breath in, pass out."
I think that's what she said.
Looks like an authorized preferred share count of 25,000,000, an authorized common share count of 250,000,000, an outstanding common share count of around 20,000,000 (hopefully), a name change to GreenShift PBC, and an increased probability of becoming current under that new name? That's my conclusion. Interesting.
I partially agree.
"The public benefit corporation shifts the mandate of the company from a narrow focus on pure profit maximization to a broader focus of creating a positive impact on people and the planet while making a profit. **At the same time, it explicitly removes the legal liability for choosing purpose over profit.**"
Kind of looks like a liability play to me.
I have this very odd feeling current shareholders are going to come out this situation licking the boot.
Oh WOW, look at that. Even more PBC information
https://benefitcorp.net/faq
Anything relatable in the mess below?
https://frostbrowntodd.com/rollover-equity-transactions/
GERS will likely end up in the same basket as ATIS. Just prepare yourself and arrive at a decision sooner than later.
Still operational, just quiet. No idea what will happen to the delisted shares.
oldrogue already dropped this here, but it's important so I just want to make sure everyone's seen it. It applies to GERS so make sure you read it.
https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.sec.gov/news/press-release/2020-212&ved=2ahUKEwj-nK-BqvnvAhUCG80KHTrIBDgQFjAAegQIBhAC&usg=AOvVaw3s2gzkqBs2g2UdfFXQS1iF
Quality Company
GERS will for sure have to fall in line assuming KK wants to remain listed. It sounds like he does so you've essentially got your time frame for filings there. It sucks that a rule change is probably the only reason GERS will file, but it is what it is. And I guess his true intentions will be on full display if he fails to follow through. We'll see. I've bought some more shares just incase it does happen.
Attis has already been delisted and revoked so their path back to public status is murky. I haven't seen any signs of permanent revocation so I've still got hopes we'll see them on the pink current someday. I'm also hoping we'll be able to draw some conclusion if JVCo details are laid out in the GERS filings. Again, we'll see.
Overall, it's still a waiting game. I'll be here for as long as I have to be. Luckily I've got other things I can look at while time passes.
Feel free to read everything at the link below. Or you can do a quick search for the word revocation at that link and you'll get a better picture of what you're dealing with.
https://www.sec.gov/about/rulesprac072003.htm
Here's some correspondence I had with a nice gentleman over at otclaywers.com regarding the path back to a public entity at the beginning of this debacle. One of the reasons I foolishly bought more right before **** hit the fan. The first time is always the hardest. Hopefully it pays off.
"In general, if a public company has its registration revoked by the SEC under Section 12(j) of the Exchange Act, the stock ceases to trade through normal avenues. However, shareholders would still own stock in that company and could verify this by contacting the transfer agent.
http://otclawyers.com/can-the-sec-revoke-a-stocks-registration/ ;
In order for that revoked company's stock to trade again, the company would need to be sponsored by a market maker to file a new Form 211 under 15c211."
Hope everyone's doing alright and good luck out there. I appreciate everyone who has stuck around and kept tabs on the situation.
Always open for conversation on the subject.
Prior to a new Form 211 being filed, the company would be known as a gray sheet.
Here is some info that may be helpful as a starting point for further research.
https://www.sec.gov/fast-answers/answersdfnctcohtm.html ;
I know, it was more for Harry and the new eyes, but you're welcome. A refresher is always nice. Adds some lost perspective on the situation.
7 total? For anyone whose curious.
2017 - 1:100
2015 - 1:100
2014 - 1:100
2011 - 1:1000
2010 - 1:10
2007 - 1:50
2003 - 1:20
It's in the filings.
We should diversify into data centers. 6b people across the globe with new people coming online everyday. Data rate is only going to increase and there won't be enough physical storage to meet demand. With scarcity comes opportunity and pricing power KK. I want 2,000 data centers by the end of 2035. Get on it my guy. Plus we'll need a place to store all that bitcoin we'll be accumulating when we decide 5% of the corporate balance sheet should be allocated towards that asset. Win win.
What price are you looking to unload at?
YA II PN v. ATTIS INDUSTRIES,INC. et al
https://www.pacermonitor.com/public/case/37898255/YA_II_PN_v_ATTIS_INDUSTRIES,INC_et_al
Are Amazon orders a thing yet or are we not at that point?
If my wild speculation is correct, this is what we've got:
-No more dilutive debt
-Reports on the way
-Possible uplisting (10 years out, who knows? I don't)
-$2,000,000 in annualized earnings (maybe)
-Growth (probably)
-$0.15 share acquisition price (why you'd sell at that price, idk. volume is volume though.)
-20,000,000 shares outstanding (roughly)
-$3,000,000 market capitalization
-66% earnings yield (assuming GERS reaches $2m in annualized earnings at some point in the future, I think that's a safe assumption.)
Outcome: an increased allocation size on a long-term gamble worth making?
Light at the end of the tunnel Byron. I see light :'
Greenshift -
Buffalo isn’t buying GreenShift.
The filings will be brought current before completing any strategic transactions.
We fought for many years to preserve and advance our portfolio to build value.
We stayed public to allow all of our stakeholders to participate in whatever that may be.
Speaking personally, I intend to do everything in my power to maximize that value, especially including for each of you. Doing so is about many things beyond my obligation as a fiduciary. Responsibility. Appreciation. Redemption. Vindication. Disruption.
We proved that globally-meaningful change is possible. We delivered tremendous value to an industry, but we/I failed to bring that value back to our shareholders. We were before our time in 2005. Now is the time. I have zero interest in gamesmanship.
Odd ball question:
I know Greenshift is the top priority at the moment, but are there any plans to take Viridis Asset Management public somewhere down the line?
I'm only asking because I want to have some cash set aside for if that ever happens.
Hope all is well
Anyone been able to piece together an earnings estimate yet?
I'll be in this one for the next 20 years. Let me know if you're bored and wanna talk about it's prospects. $25 leaps are looking like a gift.