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One to watch...hopefully like old times move.
EMON 2.30
Shac
Bought GRPH on Friday at .86
Check the volumes
Bought GRPH on Friday at .86
Check the volumes
Bought GRPH on Friday at .86
Check the volumes
Okay, been out of the OTCBB game for years, thinking of looking at buying something. Anything out there with a real story, revenue or a exciting technology? Shoot me some symbols to look at...thanks
Okay, been out of the OTCBB game for years, thinking of looking at buying something. Anything out there with a real story, revenue or a exciting technology? Shoot me some symbols to look at...thanks
Patsy, come back and say hi...2005 since your last post.
Hi Mash,
I still trade, it's in he blood for life. Still using the same screen name and everything. Thinking of getting more active on the boards now that life is slowing down a bit. Been active on Calls and Puts and big board stocks. Talking with an old buddy today, thinking it may be time to come back to the Hub.
Cheers,
Shac.
Next week as in this week??? .002 bid
Three more the add to the POS BB stocks:
RCTY Dilute, dilute pollute, reverse
BQTG Dilute, dilute, reverse coming I bet.
ARNC more dilution
All three are turds that should be flushed
Hottest July here since 1936. 1 day below 92 degress or in our terms 1 day below 30 celius. The good news is I am not spending money on heating the pool.
Like you, I like my pool at about 86 - 87 degrees but has been sitting around 90
ToshacH
This has been a real turd of a stock. Do something anything, turn it into a shell it would be worth more. Looks like another shareholder gave up today.
Hi Lazarus,
Hey buddy how are you doing?
I was thinking about you today and how hot it gets there. Wondering how hot you guys have it today?
We are 98 today and 102 tomorrow, not sure what I will do!! My igloo might melt and my husky dogs that pull my sled are cooking. LMAO
Not icing down the pool just yet like you guys, but spending all day in and out of the pool to be sure. I love summer!!!
Cheers,
Shawn
BioQuest Technologies Announces 'Great Success' with 16 Store Test at Tire Kingdom
2007-06-26 16:01 ET - News Release
Company to Rollout DX-12 Degreaser in All 650 Tire Kingdom Stores
JUPITER, Fla. -- (Business Wire)
BioQuest Technologies, Inc., (Pink Sheets:BQTG), a leading developer of innovative, environmentally safe antimicrobial products, today announced it has completed a 16 store test of its DX-12 degreaser product with Tire Kingdom, the largest independent tire and automotive services retailer in the U.S. The successful test has led Tire Kingdom to approve DX-12 for a nationwide rollout of all 650 Tire Kingdom stores coast to coast.
DX-12 driveway cleaner is a revolutionary new product which effectively cleans an extremely wide range of oils, greases, transmission fluids, and other troublesome contaminants from all driveway surfaces with minimal deleterious effects on the environments or the surfaces cleaned. DX-12 is water-based and contains no caustics, acids, petroleum solvents or phosphates.
“We have had great success with our test of DX-12 and the bay cleaning program at Tire Kingdom,” said Arne Rotne, President of BioQuest Technologies, Inc. “Our product is much safer for the Tire Kingdom staff since it is environmentally friendly and it has better cleaning properties providing a stronger, more intense deep cleaning of the store bays. The nationwide rollout of DX-12 by such a reputable retailer like Tire Kingdom is a testament to the proven effectiveness of our powerful water based cleaners and degreasers. We are aggressively pursuing other relationships similar to this one and anticipate we will be very successful in product placement.”
Chicago-based Schwarz Supply Source will offer the North American distribution for the Tire Kingdom program with the DX-12 product. Schwarz Supply Source has been a national leader for over 100 years in the distribution of packaging and other supply items for some of the biggest retailers in the U.S. Schwarz Supply Source serves over 30,000 unique locations nationwide.
About Tire Kingdom:
Headquartered in Juno Beach, Florida, Tire Kingdom began in 1972 and was eventually purchased in 2000 by Memphis-based TBC Corporation. TBC Corporation is one of the nation's largest marketers and distributors of tires for the automotive replacement market. TBC has continued to expand Tire Kingdom with additional locations in markets it currently serves as well as to extend its geographic coverage. In November 2005, Sumitomo Corporation of America (SCOA) acquired TBC Corporation as a wholly owned subsidiary. SCOA is an investor and business partner in more than 40 subsidiary and affiliate companies.
Tire Kingdom sells quality name brand tires such as Michelin, Goodyear, General, BFGoodrich, Sigma, Toyo, Pirelli, Uniroyal, Yokohama, and more. Tire Kingdom's retail centers provide full-service tire replacement including tire balancing, wheel alignment, extended service programs and warranties. The centers also offer under-car / under-hood maintenance services including brake repairs, suspension system replacement, drive line repair, air conditioning service, cooling service, transmission service, fuel system service and oil change service. Tire Kingdom is committed to total customer satisfaction. Every tire purchased is covered by a 30-day ride guarantee. That means, a Tire Kingdom customer can try his/her new tires for up to 30 days and if not satisfied, bring them back for a full credit towards a new set. More information can be found at: www.tirekingdom.com.
About BioQuest Technologies, Inc.:
BioQuest Technologies Inc. develops innovative antimicrobial products that are environmentally safe protecting homes and businesses from dangerous mold, bacteria and fungi. The company’s best-selling and revolutionary new product is its patented BioShield 75 product which is EPA registered. BioShield 75 eliminates and inhibits further growth of bacteria, fungi, algae, mold and mildew. In addition, BioShield 75 is water based, odorless and colorless, protects a wide range of surfaces and has been accepted by the USDA for use on food contact surfaces. BioQuest’s ProShield 5000 provides antimicrobial protection in textiles such as jerseys, socks, towels, and various surfaces. BioQuest Technologies offers a variety of products that provide durable and effective antimicrobial protection against damaging microbes. For more information about BioQuest Technologies go to: www.BioQuestech.com. BioQuest Technologies makes no health claims when discussion results for its antimicrobial products.
Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements are presented based on current information available to management and in consideration of assumptions concerning information available to management regarding future events. Forward-looking statements are subject to risks and uncertainties that could cause future events or results to differ materially from such statements. BioQuest Technology Inc. disclaims any intent or obligation to update or revise any forward-looking statements and presents information herein solely for the intent of delivering general information regarding the company.
Contacts:
For BioQuest Technologies, Inc., Jupiter
Cervelle Group
David Donlin, 407-475-9966
Email: info@thecervellegroup.com
Source: BioQuest Technologies, Inc.
BioQuest Technologies Announces 'Great Success' with 16 Store Test at Tire Kingdom
2007-06-26 16:01 ET - News Release
Company to Rollout DX-12 Degreaser in All 650 Tire Kingdom Stores
JUPITER, Fla. -- (Business Wire)
BioQuest Technologies, Inc., (Pink Sheets:BQTG), a leading developer of innovative, environmentally safe antimicrobial products, today announced it has completed a 16 store test of its DX-12 degreaser product with Tire Kingdom, the largest independent tire and automotive services retailer in the U.S. The successful test has led Tire Kingdom to approve DX-12 for a nationwide rollout of all 650 Tire Kingdom stores coast to coast.
DX-12 driveway cleaner is a revolutionary new product which effectively cleans an extremely wide range of oils, greases, transmission fluids, and other troublesome contaminants from all driveway surfaces with minimal deleterious effects on the environments or the surfaces cleaned. DX-12 is water-based and contains no caustics, acids, petroleum solvents or phosphates.
“We have had great success with our test of DX-12 and the bay cleaning program at Tire Kingdom,” said Arne Rotne, President of BioQuest Technologies, Inc. “Our product is much safer for the Tire Kingdom staff since it is environmentally friendly and it has better cleaning properties providing a stronger, more intense deep cleaning of the store bays. The nationwide rollout of DX-12 by such a reputable retailer like Tire Kingdom is a testament to the proven effectiveness of our powerful water based cleaners and degreasers. We are aggressively pursuing other relationships similar to this one and anticipate we will be very successful in product placement.”
Chicago-based Schwarz Supply Source will offer the North American distribution for the Tire Kingdom program with the DX-12 product. Schwarz Supply Source has been a national leader for over 100 years in the distribution of packaging and other supply items for some of the biggest retailers in the U.S. Schwarz Supply Source serves over 30,000 unique locations nationwide.
About Tire Kingdom:
Headquartered in Juno Beach, Florida, Tire Kingdom began in 1972 and was eventually purchased in 2000 by Memphis-based TBC Corporation. TBC Corporation is one of the nation's largest marketers and distributors of tires for the automotive replacement market. TBC has continued to expand Tire Kingdom with additional locations in markets it currently serves as well as to extend its geographic coverage. In November 2005, Sumitomo Corporation of America (SCOA) acquired TBC Corporation as a wholly owned subsidiary. SCOA is an investor and business partner in more than 40 subsidiary and affiliate companies.
Tire Kingdom sells quality name brand tires such as Michelin, Goodyear, General, BFGoodrich, Sigma, Toyo, Pirelli, Uniroyal, Yokohama, and more. Tire Kingdom's retail centers provide full-service tire replacement including tire balancing, wheel alignment, extended service programs and warranties. The centers also offer under-car / under-hood maintenance services including brake repairs, suspension system replacement, drive line repair, air conditioning service, cooling service, transmission service, fuel system service and oil change service. Tire Kingdom is committed to total customer satisfaction. Every tire purchased is covered by a 30-day ride guarantee. That means, a Tire Kingdom customer can try his/her new tires for up to 30 days and if not satisfied, bring them back for a full credit towards a new set. More information can be found at: www.tirekingdom.com.
About BioQuest Technologies, Inc.:
BioQuest Technologies Inc. develops innovative antimicrobial products that are environmentally safe protecting homes and businesses from dangerous mold, bacteria and fungi. The company’s best-selling and revolutionary new product is its patented BioShield 75 product which is EPA registered. BioShield 75 eliminates and inhibits further growth of bacteria, fungi, algae, mold and mildew. In addition, BioShield 75 is water based, odorless and colorless, protects a wide range of surfaces and has been accepted by the USDA for use on food contact surfaces. BioQuest’s ProShield 5000 provides antimicrobial protection in textiles such as jerseys, socks, towels, and various surfaces. BioQuest Technologies offers a variety of products that provide durable and effective antimicrobial protection against damaging microbes. For more information about BioQuest Technologies go to: www.BioQuestech.com. BioQuest Technologies makes no health claims when discussion results for its antimicrobial products.
Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements are presented based on current information available to management and in consideration of assumptions concerning information available to management regarding future events. Forward-looking statements are subject to risks and uncertainties that could cause future events or results to differ materially from such statements. BioQuest Technology Inc. disclaims any intent or obligation to update or revise any forward-looking statements and presents information herein solely for the intent of delivering general information regarding the company.
Contacts:
For BioQuest Technologies, Inc., Jupiter
Cervelle Group
David Donlin, 407-475-9966
Email: info@thecervellegroup.com
Source: BioQuest Technologies, Inc.
If you don't like the weather on this stock wait 5 minutes
BioQuest Technologies Inc. Names Arne Rotne II as CEO
2007-06-26 11:09 ET - News Release
JUPITER, Fla., June 26, 2007 (PRIME NEWSWIRE) -- BioQuest Technologies, Inc., (Pink Sheets:BQTG), a leading developer of innovative, environmentally safe antimicrobial products, recently named Arne Rotne II as President and CEO. Rotne's expertise in developing manufacturing products and bringing them to the retail and wholesale markets spans over 25 years.
Before joining BioQuest, Rotne spearheaded a number of multi-million dollar projects including being the Director of New Product Development for Blue Star Food Products, one of the leading crabmeat companies in the U.S. Mr. Rotne was responsible for building a line of retail products and developing a processing system as well. Prior to Blue Star, he was President of Perfect Foods and ALR Enterprises where he developed state of the art food products and modified air packaging for a product line sold exclusively to Sam's Club called Chef Arne's.
"I firmly believe BioQuest has the ability to gain a significant share of the multi-billion dollar antimicrobial industry," Rotne said. "Some of our biggest products are cutting edge and patented. BioShield 75 and ProShield 5000 for instance are taking a multitude of industries by storm and have generated serious attention based on their incredible benefits. BioQuest is perfectly positioned to meet the growing demand of consumers who are seeking proven solutions against bacteria and mold."
Rotne will be based in Jupiter, Florida, headquarters for BioQuest accounting, regulatory affairs IT and operations.
About BioQuest Technologies, Inc.:
BioQuest Technologies Inc. develops innovative antimicrobial products that are environmentally safe protecting homes and businesses from dangerous mold, bacteria and fungi. The company's best-selling and revolutionary new product is its patented BioShield 75 product which is EPA registered. BioShield 75 eliminates and inhibits further growth of bacteria, fungi, algae, mold and mildew. In addition, BioShield 75 is water based, odorless and colorless, protects a wide range of surfaces and has been accepted by the USDA for use on food contact surfaces. BioQuest's ProShield 5000 provides antimicrobial protection in textiles such as jerseys, socks, towels, and various surfaces. BioQuest Technologies offers a variety of products that provide durable and effective antimicrobial protection against damaging microbes. For more information about BioQuest Technologies go to: www.BioQuestech.com. BioQuest Technologies makes no health claims when discussing results for its' antimicrobial products.
Safe Harbor: This letter contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.
CONTACT: The Cervelle Group
Investor Relations
David Donlin
(407) 475-9966
info@thecervellegroup.com
BioQuest Technologies Inc. Names Arne Rotne II as CEO
2007-06-26 11:09 ET - News Release
JUPITER, Fla., June 26, 2007 (PRIME NEWSWIRE) -- BioQuest Technologies, Inc., (Pink Sheets:BQTG), a leading developer of innovative, environmentally safe antimicrobial products, recently named Arne Rotne II as President and CEO. Rotne's expertise in developing manufacturing products and bringing them to the retail and wholesale markets spans over 25 years.
Before joining BioQuest, Rotne spearheaded a number of multi-million dollar projects including being the Director of New Product Development for Blue Star Food Products, one of the leading crabmeat companies in the U.S. Mr. Rotne was responsible for building a line of retail products and developing a processing system as well. Prior to Blue Star, he was President of Perfect Foods and ALR Enterprises where he developed state of the art food products and modified air packaging for a product line sold exclusively to Sam's Club called Chef Arne's.
"I firmly believe BioQuest has the ability to gain a significant share of the multi-billion dollar antimicrobial industry," Rotne said. "Some of our biggest products are cutting edge and patented. BioShield 75 and ProShield 5000 for instance are taking a multitude of industries by storm and have generated serious attention based on their incredible benefits. BioQuest is perfectly positioned to meet the growing demand of consumers who are seeking proven solutions against bacteria and mold."
Rotne will be based in Jupiter, Florida, headquarters for BioQuest accounting, regulatory affairs IT and operations.
About BioQuest Technologies, Inc.:
BioQuest Technologies Inc. develops innovative antimicrobial products that are environmentally safe protecting homes and businesses from dangerous mold, bacteria and fungi. The company's best-selling and revolutionary new product is its patented BioShield 75 product which is EPA registered. BioShield 75 eliminates and inhibits further growth of bacteria, fungi, algae, mold and mildew. In addition, BioShield 75 is water based, odorless and colorless, protects a wide range of surfaces and has been accepted by the USDA for use on food contact surfaces. BioQuest's ProShield 5000 provides antimicrobial protection in textiles such as jerseys, socks, towels, and various surfaces. BioQuest Technologies offers a variety of products that provide durable and effective antimicrobial protection against damaging microbes. For more information about BioQuest Technologies go to: www.BioQuestech.com. BioQuest Technologies makes no health claims when discussing results for its' antimicrobial products.
Safe Harbor: This letter contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.
CONTACT: The Cervelle Group
Investor Relations
David Donlin
(407) 475-9966
info@thecervellegroup.com
Methinks you might be right buddy ;)
This is why I love trading the pennies, no big board stock even come close to the fun we can have with these.
In GSHF today at .046 based on chart.
NEW YORK -- (Business Wire)
GreenShift Corporation (OTC Bulletin Board: GSHF) chairman and chief executive officer, Kevin Kreisler, issued the following letter to GreenShift’s shareholders today:
Dear Shareholders:
We have accomplished much since GreenShift initiated operations in April 2005, and we are proud and excited by the progress we have made in our various operations. But we have a number of significant issues that we face today that are in need of correction.
Chief among these issues is that of share value. We believe that the current share price of each of our companies does not accurately reflect the value of what we have built.
Our mission is to create valuable opportunities for many people and companies to use resources more efficiently and to be more profitable. To accomplish this, we target and reduce or eliminate consumption inefficiencies by
-- developing and implementing incremental advances in technologies
and business practices
-- that leverage established infrastructure and distribution channels
to enable increased and sustainable profits
-- by decreasing the consumption of natural resources and the
generation of wastes and emissions.
We are focused on implementing this model first in the agriproducts sector, where we have sought out applications of technology that create value-added co-product and waste extraction and refining opportunities.
In the past two years GreenShift and its affiliated companies raised and deployed about $40 million in capital to successfully: (i) acquire and develop technologies that are capable of cost-effective “plug-and-play” integration into existing agriproducts plants; (ii) develop the go-to-market capabilities necessary to bring these technologies to market; (iii) complete early-stage commercialization and finalize the application of the first two of our technologies; (iv) sell and commission early-adopter and commercial implementations of these two technologies; (v) execute a number of agreements that are vital to the foundation of our long term commercialization plans, and, importantly, (vi) initiate positive cash flows. Some of the more significant of our technology-centric achievements include:
-- Corn Oil Extraction
Our process engineering and technology transfer company, GS
CleanTech Corporation, acquired its patent-pending Corn Oil
Extraction technology in early 2006. This technology efficiently
extracts crude corn oil from a co-product of ethanol production at
rates and efficiencies that outstrip any conventional extraction
process. GS CleanTech has executed 6 contracts with ethanol
producers that provide for the extraction and purchase of more than
30 million gallons of crude corn oil. Two early adopter extraction
systems were sold and commissioned during 2006, and we recently
commissioned our first deployment where we retain the right to buy
and sell the extracted oil at rate equal to more than 1.2 million
gallons per year. This oil is currently worth upwards of $1.50 per
gallon and GS CleanTech has just begun to sell oil this month. An
additional 4 systems are planned for deployment over the balance of
this year and we have many similar potential contracts in our sales
pipeline. If all of these new contracts are signed, they will
provide us over 60 million additional gallons of corn oil
extraction potential.
-- Biodiesel Production Equipment
Our fuel production company, GS AgriFuels Corporation, recently
acquired a biodiesel technology provider, NextGen Fuel, Inc., which
had developed and completed early stage commercialization of a
patent-pending continuous flow biodiesel system. The NextGen
systems, which include both direct and transesterification, are
skid mounted and sized to produce 5 million or ten 10 million
gallons of biodiesel per year. Traditional processes typically
require several hours to complete the conversion of qualified
vegetable oils and animal fats into biodiesel; we intensify and
idealize the conditions under which this conversion occurs and we
are consequently able to complete the conversion in minutes instead
of hours - at a much smaller scale than traditional processes, and
at reduced capital and operating costs as compared to traditional
processes. These benefits also allow us to efficiently convert a
broader array of feedstocks than any traditional process that we
are aware of. Since acquiring NextGen we have improved and refined
the technology, completed commercialization and recently
successfully shop-tested two systems for U.S. clients.
-- Development of Corn Oil Biodiesel Production Facilities
We recently announced the execution of letters of intent that call
for GS CleanTech to design, build and integrate an additional 12
corn oil extraction systems with integral biodiesel systems at 4
separate ethanol production facilities. In addition, GS CleanTech
recently executed an agreement for the extraction of about 7
million gallons per year of corn oil at an ethanol facility next to
one of GS AgriFuels' planned biodiesel facilities. In all, these
planned new extraction systems and biodiesel facilities will first
extract and then convert about 37 million gallons of crude corn oil
into biodiesel. GS CleanTech and GS AgriFuels will work together on
these developments - GS CleanTech will provide and sell
engineering, construction and technology transfer services in
return for a mixture of process engineering and plant construction
sales, technology royalties and selected feedstock sales, and GS
AgriFuels will provide its biodiesel systems and invest in the
various projects. If these letters of intent are successfully
converted into executed contracts and the relevant projects are
financed, these prospects would result in a total of more than $90
million in additional process engineering and equipment sales and
ongoing royalties for GS CleanTech and about $50 million per year
in ongoing biodiesel sales for GS AgriFuels at current biodiesel
prices.
That said, our successes are clearly not translating into share value. Our view is that the message is getting lost in the complexities of our capital structure.
We had an entirely different outcome in mind when we formed GreenShift as an investment company and seeded our various companies and technologies. Recall that our original structure included a number of public platform companies that were intended to focus on specific sectors – clean technology development, clean fuels production, clean energy production and environmental services. This structure was established to enable each company to raise capital with its own balance sheet, and its own equity, in order to support its own business model. A big part of the reason for this was that the investment theses were different from one business focus to the next – the structures and valuations used for financing emerging clean tech R&D, for example, are very different from those used to finance mature fuel or power production. At bottom, this structure was initially very successful as it resulted in the financing, acquisition and development of all of our core technologies and operations.
Last year, however, after recognizing the significance of the market opportunities presented by a few of our technologies in the rapidly expanding renewable fuels market, we narrowed our focus to financing and supporting the development and iterative roll-out of our leading technologies and related operations.
Today, we have commercialized essential technologies that have been designed to service needs that few (if any) others currently have the capability to fulfill, and we have positioned these technologies for deployment in an expansively growing renewable fuels market.
The opportunities in front of us in the biomass-derived fuels sector are simply tremendous and we would be remiss if we were to commit capital to anything but implementation in this vertical given our technological advantages.
With this narrowing in focus, the capital structure that we successfully used to seed our technologies has become a costly distraction and an unnecessary drain on resources. Therefore, we have initiated steps to simplify our capital structure and increase the transparency of our operations. This is a process that I believe to be critical to our growth and I am committed to seeing it through to an expedient and cost-effective conclusion.
Our plan involves (1) merging GS CleanTech into GreenShift and, separately, merging GS Energy into GS AgriFuels, (2) liquidating non-core assets, and (3) restructuring and refinancing our debt while we (4) increase sales and earnings in our core business units.
1.Complete Pending Mergers
We believe that the GreenShift – GS CleanTech and GS AgriFuels – GS Energy mergers will help to reduce operational overlap and redundancies, promote a unified vision among our employees, reduce the confusion created by our current structure among customers, vendors, creditors, shareholders and other stakeholders, reduce the focus, capital, and other resources required to administer multiple public entities, and increase our ability to focus on creating value for our shareholders. Updates on these transactions follow:
-- GS AgriFuels - GS Energy Merger
To complete this merger, we need to prepare and file a registration
statement and secure regulatory approval. We have completed nearly
all of the requirements for the filing of this registration
statement and are now only waiting on the final third party legal
and tax opinions. We expect to receive these opinions shortly and
that we will file the registration statement before the end of this
month. GS Energy shareholders will receive 1 share of GS AgriFuels
for every 1,000 shares held in GS Energy on the record date for
this merger. This merger can take anywhere from 3 to 6 months to
complete, depending nearly entirely on how long it takes to secure
regulatory approval.
-- GreenShift - GS CleanTech Merger
The completion of this merger will also require the filing and
approval of a registration statement. We have started to prepare
this registration statement and our goal is to file it as soon as
possible.
GS CleanTech shareholders will receive 1 share of GreenShift for
every 3 shares of GS CleanTech held on the record date for merger.
This exchange ratio was set based on the market price for both
stocks at the time we announced the merger. Given the negative
market response to our original plan to complete this merger, we
considered a number of ways to improve the rate of exchange for
minority shareholders of both GS CleanTech and GreenShift, from
simply changing the exchange rate, which could have significant
negative tax consequences on GS CleanTech's minority shareholders,
to financing a cash buyback of GS CleanTech stock, which would not
be fair to the GS CleanTech shareholders at current market prices.
We settled on decreasing my ownership of the combined company down
to 60% and eliminating all preferred stock upon completion of the
merger. GreenShift currently owns about 80% of GS CleanTech and I
currently own about 80% of GreenShift in the form of preferred
stock. We believe that we can prevent negative tax consequences for
the minority shareholders of both companies simply by adjusting the
conversion features of my preferred ownership in GreenShift.
Importantly, this is intended to have the effect of increasing the
aggregate percentage of the combined company owned by the minority
shareholders of both companies from 20% to 40%.
2.Liquidate Non-Core Assets
We will liquidate or otherwise divest ourselves of any investment, company or asset that is not critical to our continued operation and growth. We have already sold off a non-core engineering unit and a minority investment, and we are exploring the sale of several of our other minority investments (we will retain our existing stakes in Sterling Planet and TerraPass). In addition, we are ceasing all R&D activity that does not complement our core technologies and business lines.
We have also negotiated for the sale our majority stake in GS Carbon Corporation to Seaway Capital, Inc., a growth equity and leveraged buyout company. Prior to the sale we will transfer all of our investments, intellectual properties and existing operations out of GS Carbon into GS CleanTech. The transfer to GS CleanTech and the subsequent sale to Seaway will occur on or before June 30, 2007. Seaway’s plans for the remaining GS Carbon public shell include the acquisition of Seaway’s majority stake in a retail big box chain and the financing and acquisition of other targeted retail chains with an aggregate of more than $30 million in sales. Notably, Seaway has already received term sheets for the financing necessary to support its acquisition plans.
3.Restructure and Refinance Debt
We have reduced our consolidated debt by about $5 million over the past several months through a combination of cash payments and equity conversions. We expect to effect further significant reductions over the balance of this year. Most of the future reductions will occur through cash payments, since we expect equity conversions to soon cease for the foreseeable future.
We need to restructure and then refinance our remaining debt. We have held favorable initial discussions with our senior creditors, each of whom has indicated a willingness to materially improve the terms of our existing debt financing in ways that support our consolidation process given the progress of our operations and our payment history. We are accordingly optimistic that we will be able to restructure a significant amount of our debt in the near term. We are working on this now.
We will, however, and even after this restructuring, need to reduce and refinance all of our remaining debt. We plan to do so with a combination of cash flows and lower cost debt and equity that we bring in at the much higher valuations justified by the performance of our core operations.
4.Execute in Core Businesses
At the conclusion of the mergers and other transactions described above, GreenShift will have two majority-owned public subsidiaries, GS AgriFuels and GS EnviroServices.
The operations of each company will be as follows:
-- GreenShift Corporation
-- Process Engineering & Plant Construction Services
-- Technology Licensing
-- Feedstock Extraction & Sales
-- Early Stage Technology Acquisition and Development
-- GS AgriFuels Corporation (OTC Bulletin Board: GSGF) Majority OwnedPublic Subsidiary
-- Biofuels Production Equipment Manufacturing & Sales
-- Biodiesel Production & Sales
-- Other Biomass Derived Fuel & Energy Production & Sales
-- Oilseed Crushing & Vegetable Oil Sales
-- GS EnviroServices, Inc. (OTC Bulletin Board: GSEN) Majority OwnedPublic Subsidiary
-- Industrial Waste Management Services
-- Environmental Engineering Services
-- Site Remediation Services
As an example of our revenue generating potential moving forward, the completion of construction and full deployment of a total of just 30 million gallons per year of corn oil extraction with integral biodiesel production capability could generate about $72 million in process engineering and plant construction sales and about $3 million in annual royalties for the merged GreenShift – GS CleanTech. Our target is to ultimately deploy 120 million gallons of corn oil extraction and biodiesel production capability.
GS AgriFuels, as the majority owner of these biodiesel production facilities, would generate about $85 million per year in ongoing biodiesel sales with better than 25% EBITDA margins at current market prices. Given the contracts, letters of intent and other recent developments detailed above, GS AgriFuels could be producing biodiesel at the 30 million gallon per year run-rate in as little as 12 months.
In addition, we believe that GS AgriFuels can generate well in excess of $50 million per year in equipment sales, and that GS AgriFuels’ oilseed crush division, Sustainable Systems, can produce more than $70 million in annualized vegetable oil and biodiesel sales after the completion of the expansion of its Montana based crush facility later this year.
Finally, GS EnviroServices, which is currently generating about $16 million per year in sales, can be expected to grow its sales at an annual rate of more than 20% for the next few years given its recently completed and planned acquisitions.
The Path Forward
Our technologies are robust, scalable, energy efficient, modular and, importantly, capable of rapid and cost-effective “plug-and-play” integration into the existing agribusiness infrastructure. These advantages converge to enable the refining of many different alternative feedstocks into clean and renewable energy and several different clean fuels cost-effectively at small scales. We believe that this capability is highly valuable because it enables us to reduce commodity risk by creating opportunities to manage production assets in response to fluctuating market conditions. No single conventional or new technology or group of technologies that we are aware of can currently achieve this.
Our commercialization plan for these technologies involves the iterative integration and synergistic application of several technologies into traditional agriproducts plants in ways that enable us to upgrade production and cost-average down the capital and operating costs traditionally associated with renewable fuel production. Our intention is to commercialize and generate cash flows from our technologies according to the following roll-out schedule:
Step 1 corn oil extraction
Step 2 integral biodiesel production
Step 3 integral biomass gasification for heat and power
applications
Step 4 integral biomass gasification for liquid fuels applications
Step 5 integral bioreformation of carbon dioxide into algal
biomass and additional liquid fuels
Importantly, each step is designed to integrate and work with each of the previous steps as well as the host facility to capitalize on all practical operating synergies. The commercialization process for Steps 1 and 2 is complete and we are actively implementing a go-to-market based on these technologies. The technologies needed for Steps 3 and 4 are nearly complete with their early-stage commercialization process and we plan to start our marketing of these capabilities later this year. The technologies needed for Step 5 are still deep in the R&D stage and require additional capital to prove out, but we are very committed to bringing a cost-effective implementation of bioreactor technology to market – this a key strategic initiative for GreenShift moving forward.
On the morning after the U.S. Senate passed a bill that calls for increased ethanol production, our focus on upgrading traditional ethanol facilities with “plug-and-play” modular technology was never more timely. We will continue to remain relentlessly focused on developing and implementing technologies that make existing and new ethanol plants more efficient. We will then do the same for other traditional agriproducts plants, such as oilseed crush plants and animal and livestock processing plants, and upgrade these plants into integrated multi-feedstock, multi-fuel biorefineries.
Our long-term strategy is to focus on the inevitable consequences of the way we use natural resources to make things, and to extract opportunities for positive economics by simultaneously increasing production efficiencies and reducing the upstream and downstream burdens of that production on our ecosystem. With increasing burdens on natural resources globally, both at the beginning and end of product supply chains, we must simply be smarter about how we use resources. GreenShift’s long term mission is to make a significant contribution to achieving this.
For the time being, however, we will remain focused on sales and earnings growth through the deployment and commissioning of corn oil extraction systems, the sales of biodiesel equipment, the financing, construction and operation of our co-located corn oil biodiesel production facilities, the expansion and operation of our oilseed crush plant, and the growth of our environmental services group.
While the results have not been obvious and the impact has not yet translated into share value, our operations have made extraordinary strides in a short period of time and they are picking up steam. We will continue these efforts while we rationalize our capital structure as quickly and as cost-effectively as possible. We appreciate your patience through that process.
We intend to announce details shortly relative to the scheduling of a conference call that we would like to hold next week to respond to shareholder questions. We are grateful for your continued interest and support, and we look forward to our next communication.
Best Regards,
Kevin Kreisler
Chairman and Chief Executive Officer
GreenShift Corporation
About GreenShift Corporation
GreenShift Corporation develops and supports clean technologies and companies that facilitate the efficient use of natural resources. GreenShift's ambition is to catalyze the rapid realization of disruptive environmental gains by creating valuable opportunities for a great many people and companies to use resources more efficiently and to be more profitable. Additional information on GreenShift is available online at www.greenshift.com.
GreenShift owns majority stakes in GS CleanTech Corporation (OTC Bulletin Board: GSCT), GS AgriFuels Corporation (OTC Bulletin Board: GSGF), GS Energy Corporation (OTC Bulletin Board: GSEG), GS Carbon Corporation (OTC Bulletin Board: GSCR) and GS EnviroServices, Inc. (OTC Bulletin Board: GSEN).
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.
Contacts:
GreenShift Corporation
212-994-5374
Fax: 646-572-6336
investorrelations@gs-cleantech.com
www.gs-cleantech.com
or
Investor Relations:
CEOcast, Inc.
Andrew Hellman, 212-732-4300
or
Public Relations:
Walek & Associates
Deborah McCandless, 212-590-0523
Fax: 212-889-7174
dmccandless@walek.com
www.walek.com
Source: GreenShift Corporation
BioQuest Technology's BioShield 75/Wix Cabin Air Filters to be Carried in All NAPA Auto Parts and AutoCare Locations Nationwide
2007-06-25 16:01 ET - News Release
JUPITER, Fla., June 25, 2007 (PRIME NEWSWIRE) -- BioQuest Technologies, Inc., (Pink Sheets:BQTG), a leading developer of innovative, environmentally safe antimicrobial products, today announced its BioShield 75/Wix Cabin Air Filters will be carried by NAPA Auto Parts and its more than 12,000 retail locations throughout the U.S. NAPA Auto Parts is the industry leader in world-class auto parts. NAPA filters with BioShield 75 will be available early 2008 at over 6,000 NAPA Auto Parts stores and 12,000 NAPA AutoCare Centers nationwide.
BioShield 75 uses exclusive patented technology developed by scientists for IndusCo Ltd. the manufacturing facility and BioQuest Technologies, and has been approved by the Environmental Protection Agency for a wide variety of uses, including air filtration. When treated with BioShield 75, filter surfaces are significantly less susceptible to the growth of molds, mildew, fungi and odor-causing bacteria. BioShield 75 bonds to the filter and is not released in the air, making it extremely safe.
"Our filters are very efficient at cleaning cabin air," said Jim Bruney, Director of CRM -- NAPA Filters. "With the addition of BioShield 75, they are now able to virtually eliminate the odors, mold and mildew that collect on all filters over times. This means a cleaner, healthier ride for drivers and passengers."
BioShield(r) 75 is a revolutionary way of inhibiting the growth of mold, mildew, bacteria and fungi. Unlike most other antimicrobial agents, which poison the microbes, BioShield(r) 75 physically attacks the microbes and renders them inert.
"It is this physical process that makes NAPA Filters with BioShield(r) 75 so effective and so safe," said Joe Mason, president of IndusCo. the manufacturing partner of BioQuest Technologies. "There are no poisons involved. There is nothing harmful to humans."
NAPA Filters provides filters for cars, light and heavy duty trucks, diesel pickup trucks, tractors, heavy duty construction and off-road and over the road heavy duty vehicles.
"Working with NAPA, the industry leader in auto parts, is a very significant event for our company since it gives us a major distribution channel with such a well established company," said Arne Rotne II, CEO of BioQuest Technologies, Inc. "NAPA's brand, fierce commitment to quality and excellent reputation from Main Street to Wall Street gives our NAPA Filter with BioShield 75 product a unique platform on which to succeed in a big way. We are very enthusiastic about this relationship and believe it will reap financial rewards for both parties."
About NAPA Auto Parts:
NAPA was founded in 1925 to meet America's growing need for a world-class auto parts distribution system. By providing excellent customer service for more than 70 years, NAPA has become the industry leader.
NAPA's strength is unrivaled, with 6,000 NAPA Auto Parts stores, 69 Distribution Centers, over 12,000 affiliated NAPA AutoCare repair facilities, 200,000 parts in inventory every day, and more ASE-Certified Parts Professionals than anyone in the industry.
In addition to being America's first choice for automotive parts and accessories, NAPA is also a leading supplier of specialty parts and equipment for the collision repair, heavy-duty truck, and industrial markets. And NAPA tools and equipment set the industry standard for quality and value. NAPA serves automotive consumers through the UAP division in Canada, Auto Todo in Mexico and with other locations throughout the Caribbean and Latin America.
About BioQuest Technologies, Inc.:
BioQuest Technologies Inc. develops innovative antimicrobial products that are environmentally safe protecting homes and businesses from dangerous mold, bacteria and fungi. The company's best-selling and revolutionary new product is its patented BioShield 75 product which is EPA registered. BioShield 75 eliminates and inhibits further growth of bacteria, fungi, algae, mold and mildew. In addition, BioShield 75 is water based, odorless and colorless, protects a wide range of surfaces and has been accepted by the USDA for use on food contact surfaces. BioQuest's ProShield 5000 provides antimicrobial protection in textiles such as jerseys, socks, towels, and various surfaces. BioQuest Technologies offers a variety of products that provide durable and effective antimicrobial protection against damaging microbes. For more information about BioQuest Technologies go to: www.BioQuestech.com. BioQuest Technologies makes no health claims when discussing results for its' antimicrobial products.
Safe Harbor: This letter contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.
CONTACT: The Cervelle Group
Investor Relations
David Donlin
(407) 475-9966
info@thecervellegroup.com
BioQuest Technology's BioShield 75/Wix Cabin Air Filters to be Carried in All NAPA Auto Parts and AutoCare Locations Nationwide
2007-06-25 16:01 ET - News Release
JUPITER, Fla., June 25, 2007 (PRIME NEWSWIRE) -- BioQuest Technologies, Inc., (Pink Sheets:BQTG), a leading developer of innovative, environmentally safe antimicrobial products, today announced its BioShield 75/Wix Cabin Air Filters will be carried by NAPA Auto Parts and its more than 12,000 retail locations throughout the U.S. NAPA Auto Parts is the industry leader in world-class auto parts. NAPA filters with BioShield 75 will be available early 2008 at over 6,000 NAPA Auto Parts stores and 12,000 NAPA AutoCare Centers nationwide.
BioShield 75 uses exclusive patented technology developed by scientists for IndusCo Ltd. the manufacturing facility and BioQuest Technologies, and has been approved by the Environmental Protection Agency for a wide variety of uses, including air filtration. When treated with BioShield 75, filter surfaces are significantly less susceptible to the growth of molds, mildew, fungi and odor-causing bacteria. BioShield 75 bonds to the filter and is not released in the air, making it extremely safe.
"Our filters are very efficient at cleaning cabin air," said Jim Bruney, Director of CRM -- NAPA Filters. "With the addition of BioShield 75, they are now able to virtually eliminate the odors, mold and mildew that collect on all filters over times. This means a cleaner, healthier ride for drivers and passengers."
BioShield(r) 75 is a revolutionary way of inhibiting the growth of mold, mildew, bacteria and fungi. Unlike most other antimicrobial agents, which poison the microbes, BioShield(r) 75 physically attacks the microbes and renders them inert.
"It is this physical process that makes NAPA Filters with BioShield(r) 75 so effective and so safe," said Joe Mason, president of IndusCo. the manufacturing partner of BioQuest Technologies. "There are no poisons involved. There is nothing harmful to humans."
NAPA Filters provides filters for cars, light and heavy duty trucks, diesel pickup trucks, tractors, heavy duty construction and off-road and over the road heavy duty vehicles.
"Working with NAPA, the industry leader in auto parts, is a very significant event for our company since it gives us a major distribution channel with such a well established company," said Arne Rotne II, CEO of BioQuest Technologies, Inc. "NAPA's brand, fierce commitment to quality and excellent reputation from Main Street to Wall Street gives our NAPA Filter with BioShield 75 product a unique platform on which to succeed in a big way. We are very enthusiastic about this relationship and believe it will reap financial rewards for both parties."
About NAPA Auto Parts:
NAPA was founded in 1925 to meet America's growing need for a world-class auto parts distribution system. By providing excellent customer service for more than 70 years, NAPA has become the industry leader.
NAPA's strength is unrivaled, with 6,000 NAPA Auto Parts stores, 69 Distribution Centers, over 12,000 affiliated NAPA AutoCare repair facilities, 200,000 parts in inventory every day, and more ASE-Certified Parts Professionals than anyone in the industry.
In addition to being America's first choice for automotive parts and accessories, NAPA is also a leading supplier of specialty parts and equipment for the collision repair, heavy-duty truck, and industrial markets. And NAPA tools and equipment set the industry standard for quality and value. NAPA serves automotive consumers through the UAP division in Canada, Auto Todo in Mexico and with other locations throughout the Caribbean and Latin America.
About BioQuest Technologies, Inc.:
BioQuest Technologies Inc. develops innovative antimicrobial products that are environmentally safe protecting homes and businesses from dangerous mold, bacteria and fungi. The company's best-selling and revolutionary new product is its patented BioShield 75 product which is EPA registered. BioShield 75 eliminates and inhibits further growth of bacteria, fungi, algae, mold and mildew. In addition, BioShield 75 is water based, odorless and colorless, protects a wide range of surfaces and has been accepted by the USDA for use on food contact surfaces. BioQuest's ProShield 5000 provides antimicrobial protection in textiles such as jerseys, socks, towels, and various surfaces. BioQuest Technologies offers a variety of products that provide durable and effective antimicrobial protection against damaging microbes. For more information about BioQuest Technologies go to: www.BioQuestech.com. BioQuest Technologies makes no health claims when discussing results for its' antimicrobial products.
Safe Harbor: This letter contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.
CONTACT: The Cervelle Group
Investor Relations
David Donlin
(407) 475-9966
info@thecervellegroup.com
Very nice steady climb, been a fun stock indeed.
A fun read:
Canaccord denies role in Natco shorting
2007-06-13 15:43 ET - Street Wire
See Street Wire (C-CCI) Canaccord Capital Inc
by Mike Caswell
Canaccord Capital Corp. denies allegations it lent shares of Natco International Inc. to short sellers as the stock plunged from $3.30 to $2.25 on April 18, 2007. The brokerage says internal records show it has never lent shares of Natco and it has a policy of not lending stock in OTC Bulletin Board companies.
Canaccord lawyer David Mitchell says Natco has dropped an injunction application it filed last week in the case, but the main lawsuit continues.
Natco's case
The case began last Monday, when Natco and eight of its shareholders filed a 14-page complaint against the brokerage. The shareholders alleged Natco suffered a "precipitous decline" on April 18, the same day Canaccord lent out Natco shares. The stock opened at $3.30, up from a 52-week high of 10 cents, but it plunged to $2.25.
It was not clear how Natco traced the alleged shorting back to Canaccord, but the company claims a Canaccord broker, Barry Hartley, confirmed that the brokerage was lending shares.
The shareholders demanded Canaccord return their Natco shares, which they held in accounts there. The statement of claim identifies the shareholders as Canafra Financial Ltd., Donna Moroz, Gurminder Bajwa, John Rennie, Narinder Tahndi and Rajinder Thandi.
Canafra Financial made the first demand on May 16, through its beneficial owner, Gerry Podersky-Cannon. Three other shareholders in the case say they asked for their shares in certificate form on May 22, but received nothing.
"Canaccord has improperly refused to convert the shares of Natco from depository form to certificate form, ignoring the demands of shareholders and Natco," the statement of claim alleges.
Natco also alleged Canaccord engaged in naked shorting, or lending the stock "when there was no prospect of delivering the shares that had been sold because insufficient free-trading shares were available to cover the short positions."
Natco and its shareholders sought a court order for the return of their shares, plus damages for loss of opportunity caused by Canaccord's alleged naked shorting.
Off to court
Natco went to court last Monday, June 4, to request that its case be heard on an expedited basis. B.C. Supreme Court Justice H. Groberman ordered the company to deliver a copy of its complaint to Canaccord by the end of the day, and agreed to hear the case the next day.
On Tuesday Natco went back to court, this time with Canaccord's lawyers on the other side. The brokerage agreed to a consent order, which instructed it to deliver share certificates to Natco's shareholders "without delay once those certificates are in the hands of Canaccord Capital Corporation."
Canaccord denies any shorting
Last Friday, June 8, Canaccord's lawyers assembled the brokerage's version of events in three affidavits they presented to Natco's lawyer, Rupert Shore.
In one of the affidavits Bruce Maranda, Canaccord's chief compliance officer, says the brokerage has never lent any Natco shares. "On the basis of direct inquiries that I made of my staff and documentation provided to me ... I can say with confidence and I verily believe that no Natco shares have ever been loaned out by Canaccord. In particular, the Natco stock belonging to the plaintiffs was never loaned," his affidavit reads.
"Apart from the fact that Canaccord's records show that Natco stock has never been loaned, the loaning of such stock would be contrary to Canaccord's policy not to loan OTC Bulletin Board stocks," he states.
Mr. Maranda says he reviewed short sale reports from April 18 that showed no short sales on any Natco stock in any Canaccord accounts.
In another affidavit, Canaccord's Mr. Hartley says delays in getting share Natco share certificates were caused by a chill placed on the shares by Depository Trust Company. (Chills are used by DTC to limit potential problems on a stock. They are a special restriction that prevents share transfers.)
Mr. Hartley says he informed Mr. Podersky-Cannon on May 23 there was a chill on Natco and that there would be a delay in producing his Natco share certificate. Mr. Hartley claims he did not say there would be "no problem" returning the shares, as Natco alleges.
Two days later, on May 25, Mr. Hartley told Mr. Podersky-Cannon that a regular, non-rush certificate takes three weeks to produce. Mr. Hartley said a rush order could cost as much as $400, although he later discovered it was $155.
Injunction application dropped
Canaccord's lawyer, Mr. Mitchell, claims Natco's lawyer, Mr. Shore, read the affidavits and dropped his application for an injunction against Canaccord. A Natco representative, reached Tuesday, said the main case is still on, however.
"We have not dropped it yet. They have still not delivered the share certificates," he said. Mr. Shore did not return a message seeking comment.
Natco closed at $2.25 Tuesday, up five cents.
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Reader Comments - Comments are open and unmoderated, although libelous remarks may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
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all they have to do us deliver the stock simple and easy or be bought in
Posted by just deliver @ 2007-06-13 16:26
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Gee, a penny stock dropping of its own accord (no pun). Who has ever heard of such a thing. Stuckholders!!
Posted by goLEEgo @ 2007-06-13 18:58
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Cannacord is a bunch of thieves. Should be in jail.
Posted by BN @ 2007-06-13 19:12
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Just as I expected, Cannacord squirms their way out out of dilivering the certs!
These people are liars and cheats!
Posted by victim @ 2007-06-13 20:32
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HAND OVER THOSE STOLEN CERTS!!!!!!!!!!
Posted by Collector Jones @ 2007-06-13 20:33
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If dtc won't issue a physical, Cannacord can't deliver it. In this day and age physical certs are very rarely requested and DTC (and CDS) hate creating them. Further, once DTC requests them, the Issuer actually prepares them for DTC, this can be a huge delay as Issuer lawyers always drag their feet. (issuing certs is a very low priority.)
What's even more to the point, so the sellers sold stock and it dropped, what's the big deal? If they'd bought stock and it went up should someone sue Cannacord as well?
Grow up, stop whining and if this dog is a real company it'll rebound.
Posted by you people are idiots @ 2007-06-13 21:06
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Accumulating AOGN at .40 to .60
I joined you at 2.00 nice call, what a move in three short days 2.65 :))))
Thanks muchly...and so quick
Can you provide a link to this forward?
WAG May 28th 8:45AM
Most likely because we just don't churn out a 100 stocks a week. We wait until we think we have a real deal stock about to move and then we post.
Example Superjim...TUBR 2.35 now 4.08 in about a week
Real nice call, glad I joined you :)
FGAM wow nice ride today .28 x .30 up .18
Loaded up on this puppy.
NCII now 3.07 looking for much more
NCII 2.52 x 2.55 I am hearing 6
Buying NCII 2.35
Should see a good run
This is moving up nice and steady, I suspect it will keep moving up as the ex-dividend date approaches.
Waiting for a good cheap one.
I looked at your HNST, this looks like a find. A stock dividend...nice!!
Don't look now 5 straight days of upward movement. Rinse and repeat...lets do it all over again. Longs make some cash and shorters hit her again. Last ride was a blast, both ways.
Sorry no, I sold for small profit last run to .01