Bergamo Acquisition Corp. (BGMO)

[Investman432]

If you read the Greensafe web site and press releases, you will find lots of info. Greensafe published its expected revenues, cap ex, roll-out plans and profits. It discusses its technologies and methods, plus identifies the specific vendor in Germany supplying the equipment (a small company). GS mentions its dealings with one Canadian appliance chain. It also names competing companies who happen to file financial statements with the SEC.

GS may have a different - and as yet unproven from my point of view - business model based on much larger scale, which forces them to garner vast quantities of appliances from a wide geographic area. Time will tell if they are able to manage the scope and execution. They trumpeted extraordinary profits, so I wouldn't be surprised if competitors from Waste Management on down have sought to reverse engineer the model or otherwise bolster their own capabilities. Greensafe does not operate in a vacuum and has no current operations. My friends warn that any operation like this takes time to build and its idiotic to base revenues/profits on maximum throughput when the challenge is getting the appliances. They point out that Swire kept expanding to the scope of the plant (more lines and more types of waste) before he even processed a single washing machine. Talk is cheap, the story kept getting better, but keep in mind when assessing the gushing profits that this is the same group that staged a phony closing and screwed up permitting of their site.

I believe GS is a very promising opportunity and worthy too, but I am realistic as to the time it will take to build up the capacity.