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This post is to provide each of you with a copy of a Q&A with another investor involving previously-accessible public information.
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Will GreenShift be releasing an investor update this quarter?
That is our current plan.
Has all major legacy debt been paid off?
Yes. The bulk of the remaining secured debt is with friendly related parties. Those lenders and I continue to provide working capital support. My hope is to eventually convert those balances into a form of long-term non-dilutive preferred equity that the company would redeem with a portion of its after-tax net income, if possible in the future.
Have the dilution issues been completely dealt with?
Yes. However, we want to do better than that. We are evaluating additional tactics to offset at least some of the historical impact.
Is 20,000,000 shares outstanding the most up to date and accurate number?
We have recently re-engaged with our accountants to bring all financial statements and securities filings current. We will have exact numbers once that it is done, however, your estimate is reasonably close for the issued and outstanding common stock, which represents about 20% of fully-diluted issued and outstanding capital stock. Viridis Asset Management LLC (my holding company) and its assigns beneficially own 80% of GreenShift’s fully-diluted issued and outstanding capital stock in the form of preferred equity.
What was the purchase (latest SEC filing) of 500,000 Attis shares on 12/20/2019 related to and does GERS still own those?
That form pertained to one of two preferred stock conversions filed by GreenShift against the $18,000,000 in Attis preferred stock issued in that transaction. The conversion was deemed to be a “purchase” under the applicable reporting rules, hence the form. Those shares were never cleared, deposited, or sold.
What percentage of the GreenShift/Attis JVCo does GreenShift currently own?
GreenShift retained 20% of the JVCo entity under the May 2018 documents. Attis is required to return the other 80% in the event of default.
Are both GreenShift and Attis going to relist to a major Exchange at some point?
We cannot speak for Attis. GreenShift recently re-engaged with its accountants to bring its financial statements and filings current, with an objective of doing so as soon as possible during the first quarter of 2021. Additional disclosure on uplisting ambitions and other plans will be provided in our planned update for later this quarter, and otherwise as appropriate.
Is the $500m Cares Act loan rumor true?
GreenShift has engaged a banker to complete a direct application to provide capital for selected stealth mode and other projects under the CARES Act Secondary Market Corporate Credit Facility (“SMCCF”) program created and administered by the Federal Reserve Bank of the US. We expect to submit that application in November 2020. However, the application that you are referring to involves another entity. I completed a personal investment in a company called White Buffalo Corporation that subsequently became a GreenShift licensee and appointed me as its chief executive officer. White Buffalo has applied for $500,000,000 of debt funding under the SMCCF. The use of proceeds under that financing is intended to include scale-up of several technologies licensed to White Buffalo by GreenShift, among others. Additional disclosure in that regard will be provided as appropriate. Finally, to avoid confusion, I also completed a personal investment in a company called Artizen Corporation, who also became a GreenShift licensee and appointed me as its chief executive officer. As a cannabis company, Artizen is not eligible for SMCCF financing.
How many ethanol plants does GreenShift either wholly own or own a membership interest in?
None at this time.
What's keeping GreenShift from updating fillings?
Nothing today, except for the time it will take to complete the financial statements and filings, and to resolve any issues raised by our independent accountants and securities counsel as we work to get that done.
