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I think the term they used "won" may have hidden meaning - only time will tell.
BHF, Some brokers are restricting GERS trading but it is NOT at GERS request. Brokers that use Penson for clearing seems to be a common denominator. Many stocks are impacted, not just GERS.
GLTU
that's a possibility - it had crossed my mind too.
love a challenge..hmm..there was a lot of good news in the release but what exactly are you zero'ing in on...hmmm..the statement about consistent profitability? or possibly that the time has come to streamline the capital structure? that means more than the R/S to me...that means bye bye PCs!
Looking forward to your post Sunday night - and any insights you care to share.
Let's break this down, we got some good news and some bad news
Bad news:
the R/S could result in short term GERS goes no bid and longer term potential for declining PPS. Timing of R/S is aug/Sept.
Good News:
We have reduced debt by about another $7 million, transitioned to operating income, strengthened our patent portfolio, and won substantial new business during 2011. In total, we have executed licenses with about 15% of the ethanol industry, with execution of additional licenses expected during the second half of this year. We have worked and will continue to work with our existing and new licensees to commence and maximize oil production this year, and we expect to be generating sufficient annualized sales by the end of this year to achieve profitability.
“Additional debt reduction and improvement of our balance sheet are among our previously-announced targets for the balance of this year. The reverse stock split is intended to facilitate realization of these objectives while positioning the company to take advantage of strategic growth and other opportunities as they materialize.”
Who's gonna tell jlglex?
Thanks - I hope you're right.
lol. Many seem to think that we're starting with an approx 5b s/o. I think after the cancellation of the KKs 10b and the addition of some commons due to conversions from related parties we were at 11b (as stated in the 10q as of may2011).
Im not sure what has happened since but i believe that is the starting point.
Also, I personally don't see any reason for buybacks until the preferred converibles are reduced and/or cancelled.
JMHO
Freedom, thanks for the updates! can you provide a link to that shares outstanding statement?
Thank you for posting this.
i believe markman rulings do not come at the actual hearing, but usually soon after (weeks, not months).
so any lawyers on the board today? Can anyone confirm?
If GERS gets a favorable ruling, I would bet that we'd see a PR to that effect(early Aug timeframe). After that, settlements would be very likely to avoid the cost of trial.
See Freedom45 post #15919. Its a best case scenario but possible all-IMHO.
August could be the pivot point for gers with 2Q report and litigation update. Maybe i should cancel my vacation!
Jim thanks for posting, Slash thanks for letting us get to know you a little better.
Slash, if you ever have the opportunity to prepare a dinner for WB again, possibly you would consider drizzling sauce on the plate to spell out our GERS ticker symbol? or maybe arrange the asparagus in such a way?
Since it is a slow day maybe we try to read something into this:
My email to Tracy:
Just curious on the activities of the board members recently. We have not had tweets lately regarding their activities. I know Mr. Othon was in Abu Dhabi recently but his bio states he was also going to be working with contacts in Mexico. Has there been any trips/progress on that front?
As for Mr. Liang, any feedback from his trip to China?
Thanks in advance if there is anything you can share.
Nothing I can comment on right now.
Eduardo "Eddie" Othon
Position: Vice President Global Business Development, Director Mr. Othon joined Liberty Star in January, 2010 as an executive focused on developing the Company's contacts in Mexico.
Q&A from Tracy
My question to Tracy: Can you tell me why the MLV agreement did not include East Silver Bell?
Tracy's response:
not mentioning East Silver Bell was an unimportant omission: all of our properties are under consideration.
Asarco tells USW of plans to expand two copper mines in Arizona
Louisville, Kentucky (Platts)--19Jan2011/604 pm EST/2304 GMT
Asarco, looking to take advantage of high copper prices, plans to expand two of its Arizona mines, a United Steelworkers union official said Wednesday. Manny Armenta, USW District 12 sub-director, said Asarco discussed its expansion plans with the union during a Tuesday meeting in Tucson, Arizona. "In general, they're taking advantage of the copper prices and need to expand a couple of mines," most likely the Ray and Mission operations, he said. Silver Bell, the company's third mine in Arizona, has less room for expansion because of its close proximity to national monuments.
From Tracy, in a follow up email
The report because of the large data background contains significant proprietary data exclusively available to Liberty Star. We will not make this available to our competitors and so of necessity only conclusions and recommendations will be made available to the public while the area is competitive. A news release in due course will give information about progress.
Tracy Myers
Investor Relations
Liberty Star Uranium & Metals Corp
520-425-1433
TMyers@LibertyStarUranium.com
Twitter: @LibertyStarLBSR
Yes I saw this message a while back when Greenshift was working this out with DTC.
Email from Tracy.
This was my first exchange with Tracy and I agree with all of you who know her that she is terrific.
I asked her to clarify the timing of the SRK report for me and who exactly would be privy to it when finalized. she offered the following and also let me know that I may share anything she communicated as she is very careful not to disclose any confidential co. info. She is a true professional.
from her first email, when I asked if the final report was ready, she replied,
Let me tell you what I know about the SRK/Tombstone tech report. Jim and SRK are still working on the draft. I know 30 days has gone by, but the scientific imperatives require that the data still needs analysis. We hope to have a report in mid July. As far as 'released to investors' that depends on what you mean.
If you are talking about a public release of our proprietary report which we expect in the next couple of weeks, I have no time frame. When the SRK report is completed it will be presented to qualified investors along with a confidentiality agreement. Again I have no time frame but certainly well before a general public release. Competition for claims and capital in southeastern AZ is extreme right now--everyone is holding their cards close.
I never send confidential communications outside of the Company, so you may use anything I say at your discretion. Keep in mind that I always try to be accurate with what I say, but am not claiming to always be 100% on target (in our industry you would have to be a nut or a liar). I would never reveal inside information either.
I agree - i think JB and the board have the report.
After being praised for timeliness in the last NR, i doubt SRK would follow with a late final report.
Comments Liberty Star’s CEO James Briscoe, “Myself and the members of the Liberty Star board are very pleased that SRK was able to analyze existing data and collect new information on our Tombstone claims quickly and efficiently.
I beleive the S/O as of May 12, 2011 was 11.6b.
From the 1st quarter report, the full 10billion had been cancelled as of may 12, 2011. So, i assume the 11.6b takes this into account.
During the second quarter 2011, Viridis Capital, LLC, the Company’s majority shareholder, surrendered a total of 6 billion common shares, which shares were cancelled as of May 12, 2011. A total of 10 billion common shares were surrendered and cancelled by Viridis Capital between November 2010 and May 12, 2011.
Greenshift hired Gould & Ratner?
I did not know that. Where did you find the info?
Thanks.
Markman Hearing
all the schedule info is on Skunk's blog. Use the search box and type in Markman.
hmm..Im not sure...90m is only 9,000 dollars. also could have been a trader who had picked up .0001s hoping to flip to .0002s and got bored. who knows. I'll be interested in the .0001 volume in the next couple weeks.
MadDog,
There were some posts i read earlier that referred to the 930 GERS shareholders in GERS as the gang of 930. I think that's what you are referring to. I didn't make much of it. Not sure anyone did.
Regardless, those of us who have been around this stock for a while, and have read the filings and news releases by GERS and our customers, do have a VERY good sense of the revenue that will be generated going forward and so we have reason to be more optimisic than in years past. Does this mean that even the most openly enthusiastic among us does not have concerns? of course not!
The good news is that there is a lot of data available to be able to calcuate potential future revenues for this company. If you disagree with an estimate that someone has provided its your right to challenge. Maybe they will be able to provide supporting data if they are asked.
In a perfect world we can challenge others opinions in a way that does not set their hair on fire. Maybe we can all aim for that at a minimum.
Wake Up Wake Up Wake Up Everyone!
look at VERT and SUNR now at .02..odd they move together like that.
WHHHAAAAATTTTjust happened! Just like ole times!
hmm...so do you think SUNR might be a net buyer today?
From Sunrise Corp Website:
Overview
Sunrise Securities Corp. is a boutique investment bank that specializes in debt and equity financings. We provide a full range of investment banking and corporate financial advisory services for small to mid size public and privately-held companies. Our dedicated team of senior professionals provides best-in-class capital raising and advisory services to our clients.
Our debt capital markets team has significant experience in the U.S. and international debt markets and has been responsible for over $40 billion of lead-arranged financings globally.
Our equity capital markets team is known for its innovative style and over the last few years has successfully completed over $3 billion in capital raising and advisory assignments as the sole placement agent or sole underwriter for more than 65 domestic and international companies.
Our affiliate, Sunrise Equity Partners L.P., is a $174 million SBIC fund, which makes direct investments in public companies.
SUNR with 50 and Vert with 100,000 most of this morning.
Congratulations on the grandchild!
i don't remember seeing SUNR at all yesterday. I checked volume by market maker reports for Jan-April and they don't appear on GERS at all this year.
I don't think VERT and SUNR are retail so they could be handling conversion from MIF, etc. It may be another quarter or two before all debt can be repaid in cash from revenue.
Worth the wait IMO.
Go GERS
http://www.sunrisecorp.com/contact.htm
You can also email the CFO of SUNR and ask her to look into their procedures for compliance with finra 6460. I just did.
Very interesting!
From the 10k looks like we own 10% of Zeropoint and we're carrying it at cost for 2.5million.
They're not a public co., are they?
I wonder what this new development might mean for us???
My honest opinion is that KK is trying to avoid another R/S. What he has to do is keep the Outstanding Shares from increasing to the point that it starts to bump up against the Authorized Shares(20billion).
Most of the dilution (4bil) we saw in the first quarter was non-YA global conversions. So, it seems, YA(our senior creditor) is mostly getting paid in cash now. This is HUGE.
Long winded but, in short, the tone of the quarterly report suggests to me that he is focused on building shareholder value and I think he can avoid the R/S based on the revenues coming in now.
I agree with you
The YA debt has to go first - that's about 27m now - though the quarterly mentioned close to 5m of YA debt being purchased by 2 investors. If that debt goes to MIF, Viridis, or one of the other friendly creditors Im much less concerned.
As the debt is reduced I beleive KK will continue the conversion his preferreds and cancel the shares. they are collateral for teh YA debt so this cannot be done all at once.
This will get us to the 'simplified capital structure' that is a major goal for the company in 2011.
1. avoid BK, PROTECT THE PATENTS
2. pay off toxic debt with cash from revs, not stock
3. Get rid of preferreds that scare new investors with the threat of massive dilution
...then maybe a buy back, but at that point, it may not matter!
Go GERS
Good Morning - Does anyone know what is going on with the ticker symbol today? (PL)?
more specifically,
On June 17, 2010, GreenShift Corporation and its subsidiaries signed a series of agreements with YA Global Investments, L.P. ("YA Global") to reduce and restructure GreenShift’s convertible debt to YA Global (the “YACO Agreements”). On July 30, 2010, the Company and YA Global entered into an agreement pursuant to which the transactions contemplated by the YACO Agreements (the “YA Corn Oil Transaction”) shall close effective August 1, 2010 (the “Effective Date”) subject to satisfaction of certain closing conditions. The conditions to effectiveness of this transaction were satisfied and the transaction is deemed effective for reporting purposes as of first quarter 2011. Since the conditions of closing were not satisfied as of December 31, 2010, the Company’s results of operations for the year ended December 31, 2010 are reported herein on the basis that the closing of the YA Corn Oil Transaction had not occurred as of such date. The YACO Agreements call for three GreenShift-owned corn oil extraction facilities based on GreenShift’s patented and patent-pending technologies andGreenShift’s interest in a fourth facility to be transferred as of August 1, 2010 to a newly formed joint venture entity, YA Corn Oil Systems, LLC (“YA Corn Oil”). In exchange, $10 million of the convertible debt issued by GreenShift to YA Global shall be deemed satisfied as of the August 1, 2010. GreenShift will also receive a 20% equity stake in YA Corn Oil and the right to receive 20% of YA Corn Oil’s distributable cash upon the realization by YA Corn Oil of a 20% internal rate of return on its invested capital. GreenShift further agreed to provide management services to the YA Corn Oil for the ongoing operation and maintenance of the transferred extraction facilities in exchange for certain management and brokerage fees, as well as earnings-based performance bonuses to be paid in the form of up to another $6 million in reduction of GreenShift’s convertible debt due to YA Global. The conditions to effectiveness of this transaction were satisfied as of first quarter 2011. The Company’s debt was consequently reduced by $10 million as of that date, which decreased the remaining balance of convertible debt due to YA Global to about $33 million. This amount can be reduced further down to approximately $27 million upon realization by GreenShift of the performance bonuses noted above.
i beleive they got 10m debt reduction as well as the 20% stake and the performance bonuses for the facilities.