Greenshift Corporation (GERS)

[nobody12378]

Need help. I have been trying to reconcile KK's statement this weekend that there are 30 million shares issued to what we learned from another authoritative source a year ago -- 20 million.

Deep into this document http://app.quotemedia.com/data/downloadFiling?webmasterId=500&ref=12291980&type=HTML&symbol=ATIS&companyName=Attis+Industries+Inc.&formType=8-K&formDescription=Report+of+unscheduled+material+events+or+corporate+changes.&dateFiled=2018-06-01

I find the following:

Interest. Interest shall accrue under this debenture (“Seller Debenture” or “Debenture”) at the lesser of TWO PERCENT (2%) or the minimum allowable rate under applicable law, but shall be waived if the Debenture is converted or otherwise fully paid on or before JUNE 30, 2028 (“Seller Debenture Maturity Date” or “Maturity Date”). Interest shall be calculated on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.



Payment. The Seller Debenture shall be exclusively paid in the form of Seller’s Common Stock, provided, however, that the principal balance due hereunder shall be reduced on a dollar for dollar basis in an amount equal to any Distributions paid by JVCo, including, without limitation, proceeds from Lump Sum Recovered Amounts, to Buyer and/or its Related Persons under the JVCo Operating Agreement. For avoidance of doubt, at no time shall Seller be obligated to pay any amount due hereunder in the form of cash. Rather, Seller shall be obligated to issue Buyer and/or its designee(s) shares of Seller’s Common Stock upon and subject to the terms and conditions hereof. Buyer agrees, in the event and to the extent it decides to sell or convert the Seller Debenture, that shares of Seller’s Common Stock issuable upon conversion of the Seller Debenture shall not, in the absence of Seller’s prior written consent, be sold in public market transactions at a monthly rate that exceeds 20% of the average monthly trading volume for Seller’s Common Stock for the three months prior to sale. No assignment of the Seller Debenture, or any portion or all of the amounts due under Seller Debenture, shall be permitted in the absence of Seller’s prior written consent.

This is not my cup of tea. Does this language/agreement explain the possibility of recent dilution inferred from what KK stated this weekend?