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Re: Dutch1 post# 51392

Tuesday, 06/19/2018 1:56:59 PM

Tuesday, June 19, 2018 1:56:59 PM

Post# of 51701
Thank you for those links.

The PR announcement from Attis is incomplete for many reasons, including the fact that it doesn't say who owns JV Co, which apparently has some sort of control over Greenshift's patents.

Copied from your second link. This is one very long sentence.

Effective May 25, 2017 (the “Closing Date”), Attis Industries Inc. (the “Company”), the Company’s wholly-owned subsidiary, Attis Innovations, LLC (“Innovations”), GreenShift Corporation (“GreenShift”), and GreenShift’s wholly-owned subsidiary, GS CleanTech Corporation (“CleanTech”), among others, entered into a Securities Purchase Agreement (“SPA”) and related transaction documents pursuant to which the Company acquired 80% of the membership interest units (“80% Units”) of FLUX Carbon LLC (“JVCo”), and $10,000,000 of GreenShift’s subordinate secured debt, in exchange for an earn-out based purchase price equal to the greater of (i) $18,000,000 (“Floor Price”); (ii) five (5) times JVCo’s Consolidated EBITDA during 2018, 2019, and 2020; (iii) four (4) times JVCo’s Consolidated EBITDA during 2021, 2022, and 2023; (iv) three (3) times JVCo’s Consolidated EBITDA during 2024 and 2025; (iv) two (2) times JVCo’s Consolidated EBITDA during 2026; or (iv), one (1) times JVCo’s Consolidated EBITDA during 2027.


Again, there is no mention of what people or companies own JV Co and what percentages they own it. If JV Co has different share classes, this information is also missing.

The rest of that paragraph mentions JV Co's new "intellectual property assets", which used to belong to Greenshift. As an owner of some GERS stock, it's very important that the ownership of JV Co stock is clearly stated to the investing public. If that company has share classes, this is also material information that should have been made public with an SEC filing. This is yet another reason for me to file a complaint with the SEC. Don't be surprised if I announce my second complaint this year against Greenshift.

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