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XKEM getting momo...I'm in
IDCN - the $hit just hit the fan
FGFC 12:22:00 7,130,000 0.029 WOW
FGFC moving on up .0324 x .033
Just picked up another 13 mil :)
GreenShift Announces $22 Million Commitment by Cornell Capital Partners for New AgriFuels Division; Company To Build 45 Million Gallon Per Year Biodiesel Production Facility
Jun 8, 2006 10:08:00 AM
Copyright Business Wire 2006
NEW YORK--(BUSINESS WIRE)--June 8, 2006--
GreenShift Corporation (OTCBB: GSHF) today announced the execution of agreements by GreenShift's new AgriFuels division, GS AgriFuels, for a $22 million investment by Cornell Capital Partners.
GS AgriFuels will use the investment to build a 45 million gallon per year biodiesel production facility and to provide working capital for the facility's initial operations.
"Cornell Capital is a great supporter of biofuels and renewable energy in general," said Kevin Kreisler, Chairman and Chief Executive Officer of GreenShift. "Cornell Capital's serious approach to supporting companies on the cutting edge of biofuels production reflects its overall vision and commitment to the clean energy sector," said Kreisler.
"Both innovative and sustainable, we see the GS AgriFuels business model as one that will thrive in the biofuels marketplace," said Troy Rillo, Managing Director of Cornell Capital. "We are proud to be a part of GS AgriFuels' development and look forward to being a part of its future."
This investment follows the closing yesterday of the sale by GreenShift of its wholly-owned subsidiary, Mean Green BioFuels, Inc., to another GreenShift subsidiary, Hugo International Telecom, Inc. (OTC Bulletin Board: HGOT) Hugo is an 80% owned subsidiary of GreenShift that has been inactive to date. Hugo will be re-named "GS AgriFuels Corporation" early next quarter in connection with these transactions.
Under the investment agreements, Cornell Capital will purchase 5% debentures in GS AgriFuels (Hugo) totaling $22 million that are convertible into GS AgriFuels (Hugo) common stock at a price of $3.00 per share. Cornell Capital provided an initial $5,500,000 of this amount at the closing, and will provide the balance of the investment in a series of tranches tied to GS AgriFuels' satisfaction of key benchmarks in its development schedule.
About GS AgriFuels Corporation
GS AgriFuels intends to finance, build and operate several biodiesel production facilities in the U.S. The feedstock for these facilities will include corn oil derived from ethanol facilities, soybean oil, and animal fats. The first planned biodiesel production facility will produce 45 million gallons per year and will be expandable to accommodate growth. Each GS AgriFuels biodiesel facility is expected to utilize traditional esterification and transesterification methods as well as proprietary processes.
GS AgriFuels is party to a strategic alliance with GreenShift's clean technology subsidiary, Veridium Corporation (OTC Bulletin Board: VRDM) pursuant to which GS AgriFuels has the right of first refusal to purchase Veridium's various biodiesel feedstocks, including the high grade corn oil that Veridium extracts from an ethanol by-product called distillers dried grain ("DDG") with Veridium's patent-pending Corn Oil Extraction System(TM).
Veridium's is developing a captive supply of DDG by providing its turn-key systems to ethanol facilities for no up-front cost in exchange for long-term corn oil purchase agreements that will afford Veridium a fixed discount to prevailing corn oil market prices. Veridium intends to purchase and sell its extracted corn oil as a high grade corn oil product until GS AgriFuels' first biodiesel production facility commences operations, at which point GS AgriFuels will purchase the corn oil from Veridium based on a fixed discount to prevailing fuel prices.
About GreenShift Corporation
GreenShift Corporation (OTC Bulletin Board: GSHF) develops and supports clean technologies and companies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
GreenShift focuses on supporting incremental advances in technologies and business practices that enable increased and sustainable profits on relatively small infrastructure investments while contributing to the resolution of compelling environmental challenges.
GreenShift's ambition is to catalyze the rapid realization of disruptive environmental gains by enabling and then leveraging the collective actions of a great many people and companies by showing them how to save money or to be more profitable.
GreenShift's operating companies have combined annualized revenues of about $30 million with EBITDA margins in excess of about 10%. GreenShift's companies also own over a dozen proprietary clean technologies.
Additional information regarding GreenShift is available online at www.greenshift.com.
About Cornell Capital
Cornell Capital is managed by Yorkville Advisors. Founded in 2001, Yorkville Advisors LLC is a private investment firm that specializes in structured finance and, according to Knobias Pipe Trac, was one of the most active investors in the U.S. in terms of the number of structured equity financings in 2005. Knobias also reported that Yorkville has structured over $1 billion in committed equity capital in over 100 transactions within the last 12 months. Headquartered in Jersey City, NJ, Yorkville has offices in London, San Diego, Jupiter and Aventura, Florida.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of GreenShift Corporation, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Source: GreenShift Corporation
----------------------------------------------
GreenShift Corporation
Phone: 888-895-3585 - Extension 291
Fax: 646-792-2636
Email: investorrelations@greenshift.com
Web: www.greenshift.com
or
Investor Relations:
CEOcast
Inc.
Andrew Hellman
Phone: 212-732-4300
or
Public Relations:
Walek & Associates
Steve Schwartz
Direct: 212-590-0534
Fax: 212-889-7174
Mobile: 917-622-6794
E-mail: sschwartz@walek.com
Web: www.walek.com
SPMP Star Petroleum Announces First Commercial Installation of New Catalytic Cracking Technology
Jun 8, 2006 9:00:00 AM
Copyright Business Wire 2006
CALGARY, Alberta--(BUSINESS WIRE)--June 8, 2006--
On behalf of Star Petroleum Corp. (the "Company") (PINK SHEETS: SPMP) President Rod Burns, P. Eng., today announced that the principals of Wellborn Energy Corp. ("Wellborn"), the Company's development partner, have reported to the Company that Process Innovators, Inc. ("PII") has negotiated the sale of their first commercial Low Profile Fluid Catalytic Cracking Unit ("LPFCCU") to an oil refinery located in the Western United States.
PII president Jim Vemich announced, "This news is of great importance to us because it justifies 12 years of development, expenditure of millions of dollars, testing, and fine tuning. We are very excited about the future as our demonstration phase comes to an end, and our commercial operations begin with the sale of our first unit." Mr. Vemich went on to say, "This is just the beginning because there is still much to be learned and there are many different applications of the technology that remain to be discovered."
Fine tuning will take place after set-up is complete, and the Company anticipates that important new data will result from the commercial operation of the unit. Also, the installation of this unit at the refinery will be invaluable to the Company as a showcase for the future marketing of the LPFCC technology. The Company has already received numerous inquiries from qualified buyers world-wide who are eager to attend at the site for the opportunity to review on-site operational data and to see a real world comparison to existing technology.
"One of the strongest selling points for the use of the company's unique LPFCC is the flexibility of our technology. With our first commercial installation we are proving up an important part of our business model and we anticipate that this will lead to a quick introduction of our technology to the industry on a global scale," said Russell Heaton of Wellborn. "Not only will we be able to build mobile, stand-alone catalytic cracking units for the field, but, as we are currently illustrating, we can 'marry' our technology into existing facilities, enabling the production of a higher-quality product at a lower cost, thereby improving the bottom line of our customers," he continued.
"The move to commercialization of the Technology represents a huge step forward for the Company and our joint development efforts," said Heaton. "It is vital that industry participants understand the magnitude of this development. We are no longer field testing a 'potential' or 'theoretical' technology. The commercial installation of the unit will result in the immediate generation of revenues, and, more importantly, will confirm its economic viability and importance to the entire industry," he continued.
About Star Petroleum Corp.
The Company is currently acquiring and venturing within the Oil and Gas sector. The initial focus and development will be on lower risk, high quality prospects which will provide the Company with a higher probability of success. The Company has additionally acquired interests in certain Oil & Gas related technologies to broaden the corporate opportunities within the industry.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Source: Star Petroleum Corp.
----------------------------------------------
Star Petroleum Corp.
Rod Burns
877-782-7583
SPMP on the move .032 x .033
Stay far away from HLEG! Eduardo Rodriguez is a crook. I got burned hard when he ran GCCP. HLEG is in bed with Cornell Captital which is why there is dilution.
Nice close gang. I held for the supagap tomorrow :)
soup, you nailed it on the head. Must stay at the computer with the finger on the sell button on these plays. Don't be afraid to take a loss.
Agreed. Looking forward to tomorrow!
not all the shakerz picks work out so you have to be ready to take a loss if it turns the other way and don't continue holding all the way down. Keep the finger on the sell button.
I sold my 5 mil today at .0024 and rolled it into FGFC at .013 for some nice gains.
Good luck longs. I may buy back at some point once CLYP stops riding the ask and the flippers go away.
FGFC - Lots of people were selling half to hold free shares after doubling today.
Very good day indeed! $$$
FGFC - I did the same thing accumulated at an .0127 avg. and just relaxed.
FGFC on the warpath new HOD .0245
LOL RMDG 911 trade just went through
I'm holding RMDG and FGFC over night
FGFC me too! Looking forward to da gap
FGFC 106 million shares traded :)
FGFC is freaking amazing. Here comes dip for those that need entry
FGFC - anybody selling now is nuts! With this kind of volume EOD run and big morning gap are a safe bet.
FGFC 3rd try at breaking .017
FGFC - The volume is the key to me. Too much buying pressure for it not to have a huge EOD run. Still about 2 hours left.
FGFC 90 million traded
FGFC Only 3 mm's below .02 on ask
FGFC going to .02+
FGFC back at HOD
FGFC could easily go .02+ today with continued buying pressure.
FGFC .0151 x .016 - 85 million shares traded
Looks like FGFC will do 100 million in volume today
I'm in FGFC as well
FGFC back to .015
FGFC moving now .0143x.0144
RMDG only 2 left at .002
FGFC is setting up for a nice EOD run and morning gap. Holding on to it's gains very well.
Makes sense. Please tell me you got the GT :) Yep, death metal and Jettas don't mix very well..lol
Thanks!