Greenshift Corporation (GERS)

[lightbeam]

Does this say what I think it does?

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22 SUBSEQUENT EVENTS

ACQUISITION OF BIOFUELS INDUSTRIES GROUP, LLC

Effective May 15, 2008, the Company and Biofuels Industries Group, LLC (d/b/a
NextDiesel(TM)) ("BIG") entered into an Exchange Agreement pursuant to which the
Company exchanged Company stock in return for 100% of the equity of BIG. This
transaction is currently in escrow pending receipt of all final post-closing
deliverables, which are expected to be finalized within two days.