Greenshift Corporation (GERS)

[radcardnel]

$587,021 in cash at the end of 2014. Down from $3,896,312 at the end of 2013. Board of Directors? Gone. Lead inventor? Gone... Reverse split #6 is inevitable... KK is sweeping the floors. GERS is hanging by a thread, IMO.

NOTE 2
GOING CONCERN

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As of December 31, 2014, the Company had $587,021 in cash, and current liabilities exceeded current assets by $38,933,663. On that date, debentures in the aggregate principal amount of $13,725,878 matured, and these are now in default, as the Company negotiates a modification and extension with the creditors. In addition, in October 2014 the District Court in Indiana issued a partial summary judgment that our corn oil extraction patents are invalid; if we are unable to successfully appeal that ruling or otherwise settle the infringement matter, it would have a significant negative impact on our future cash flows.