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Ethanol plants shut down 2-3 times a year for about a week for scheduled maintenance. This includes a good thorough cleaning. There is 10's of thousands if not 100's of thousands of feet of pipe that run through the plants that eventually gunk up and require frequent cleaning.
Lets see...
Shut down now when corn prices are around $7 per bushel or shut down later when corn prices are under $5 per bushel? And yes they shut down plants 2-3 times a year for maintenance.
If the dilution continues at the same rate it was during the first half of the quarter it will be right about 200 million when the next numbers drop. GERS added 30 million shares in the first half of Q2, but with the high volume over the last month, I think 200 million is a very conservative estimate. (Unless there was a panic sell off after rumors of your disappearance)
Reporting date QoQ %Increase
___________________________ _____________
Q411 Dec 31, 2011 - 18,098,873
Q112 Mar 30, 2012 - 23,000,139 27%
Q212 Jun 30, 2012 - 35,200,746 53%
Q312 Sep 30, 2012 - 46,616,482 32%
Q412 Dec 31, 2012 - 63,966,016 37%
Q113 Mar 29, 2013 - 116,755,437 83%
MidQ2 May 15, 2013 - 147,441,907 26% QTD
Q213 Jun 30, 2013 - >147,441,907? >26%?
I don't really have an opinion on that, I was just posting the link to Skunk's block because Rich asked for it.
I think this has to do with the 8-K that was filed where they screwed up the calculation for "Weighted average common shares outstanding - diluted" on the 10-K 2011. They were suppose to give the total number of shares issued for the year, but they took the R/S into account when apparently they weren't supposed to.
Way to be on top of things, Skunk only beat you by about a year and a half.
http://greenshift-gers.blogspot.com/2011/10/prevost-argument-fails-defense-to.html
Now you're one for details? You've brazenly declared that PEIX has a pending lawsuit against them. Where is that written?
Yes that is from the latest 10K, but look at this:
Anyone know what this is about?
http://www.3dca.flcourts.org/opinions/3D12-2428.pdf
I can't find any other details.
Slash's post is for a blog post that is based on the story I posted that is from February 1.
You would think, but it hasn't seemed to help much in the last two and a half months since the news broke.
http://www.businesswire.com/news/home/20130201005622/en/Major-Ruling-Litigation-Greenshift%E2%80%99s-Corn-Oil-Extraction
That could be the reason we're seeing the mass dilution right now. The lenders could be aware that they might be paid off soon by new financing. They could be converting as much as possible now knowing that they could make a bundle when they are no longer responsible for deflating the price.
It's my understanding that the shares are issued upon conversion and enter the OS count immediately because they are not held by GERS. The lenders are technically purchasing the shares, but instead of paying cash for them, they are cancelling debt.
I've been thinking about this and I am starting to wonder if the sudden influx in the rate of conversion might actually be a positive sign. What if the bond holders have some inside knowledge that we are unaware of. If I was holding a convertible debenture and saw something good coming, I would convert the max immediately, especially with the 10% discount.
Then again, GERS could have just stopped paying their bills, leaving conversion as the only option to collect.
Thoughts to ponder...
Any one of the 18 convertible lenders.
That number is the number of shares it would take to cover all of their debts. I'm assuming that they're basing it on a PPS of .01 which would make the conversion price .009.
3,707,432,266
x .009
-------------
33,366,890
All of those people bring up a very good point. You claim that GERS now has enough money to pay their debts from cash flow, but the OS has more than doubled since the previous filing.
Some quick math to show the rate of dilution over the last year from publicly available data.
Reporting date %Increase Period from last report
_________________________ _________ _______________________
Dec 31, 2011 - 18,098,873
Mar 30, 2012 - 23,000,139 27% 91 Days
May 15, 2012 - 29,373,071 28% 46 Days
Jun 30, 2012 - 35,200,746 19% 46 Days
Aug 14, 2012 - 38,761,157 10% 44 Days
Sep 30, 2012 - 46,616,482 20% 47 Days
Nov 14, 2012 - 53,519,036 15% 45 Days
Dec 31, 2012 - 63,966,016 20% 47 Days
Mar 29, 2013 - 116,755,437 83% 90 Days
As of Q3 2012 filing the current principal due for convertible debt was $30,387,890
The person that owns the house that you rent can change the terms to make it a rent to own, after you pay them a set amount you would take ownership of that house. You and Nobody are both wrong in claiming you are stating fact. An inventor of a patent can give all rights of their patent to an assignee, but they can also give limited rights to an assignee. The only way to know for sure in this case is to read the contract between GERS and the inventors.
What keeps me from investing more is that my position in the company has decreased by 80% in the last year even though I hold the same number of shares. We've gone from 18 million OS to, I'm guessing, over 90 million OS in 1 year. The only benefit of diluting this much is that a negative EPS won't look quite so bad.
That is absolutely false. Dilution isn't going to stop while they file paperwork. They figure out what the OS is at the end of the reporting period and use that number for all calculations, then on the date they file they tack on the current OS. The OS on the filing date is not used for any calculations.
Note on the last 10-Q the OS at the end of the third quarter 9/30/2012 was 46,616,482 but on the filing date 11/19/2012 the OS was 53,519,036
Plus, it appears there has already been some significant dilution today.
I noticed you stopped ridiculing Nobody for predicting sub-penny.
You underestimate the power of dilution.
The splits were necessary to keep the company afloat while defending their patents against companies like Pacific Ethanol. I've a feeling that you're just worried that your PEIX investment is going to plummet when Greenshift gets their favorable summary judgement.
IBM Global Expense Reporting Solutions (GERS)
While I'm going long on GERS, I think I found my new pink to chase.
MJNA
I think it would be considered a green stock ;)
This is what we want to see when dilution isn't involved. There are still a lot of people here that are delusional about the dilution.
This ruling and accompanying presser couldn't have come at a better time with the NEC coming up next week. Maybe the ethanol producers that have been on the fence will approach GERS at the conference now.
When GERS wins, I'm sure a permanent injunction is guaranteed. The appeals court can overturn the injuction once the case gets to them, but in the current market, I don't see this going to appeal. Just like if GERS had sought a preliminary injunction, a bond must be posted. In the case of appeal the defendant must post a bond for the entire amount of damages awarded. Tying up that much money on their corporate balance sheet for the duration of appeal would essentially force most of the defendants out of business making a settlement much more appealing.
I bet it's those pesky shorters again. They're buying and shorting and then selling those shares that they bought so they can cover their short position. You're delusional if you think that there is continued dilution. I don't know why you would even bring it up. :)
Then you must have linked to the wrong company then, because this one, http://premiumplantservices.com/industries.php, is a hydroblasting company.
They don't make anything. They clean industrial plants and equipment. Hydroblasting is just a fancy term for power washing.
Fabricator? That is a hydroblasting company, one of the worst jobs ever. Trust me, I've done it.