Watch for more GRNE promotions in the future IMO. Someone will want to sell some more shares IMO....best case scenario is they actually become profitable and use profits to build the company instead of using convertible debts....and pay off the current debts/preferred shares with cash. Instead of Asher getting the convertible notes, it's just the noteholders are getting convertible preferred B shares now. Either way it results in 100's of millions of commons released....at least at these levels in the pps.
Also it will be interesting to see what Surber does with the new requirements under OTCQB...It looks like this ticker will downgrade to OTC Pink tier after the May 1st deadline. GRNE will not meet the bid price test. These new requirements will weed out the toxic convertible debt monsters in the OTC.
SEC Reporting Companies Initial Requirements • Meet an initial bid price test of $0.01 as of the close of business for each of the previous 30 calendar days • Complete and submit OTCQB Application and applicable fees • Be current in all periodic reporting requirements on EDGAR (or for companies not required to file on EDGAR, post SEC disclosure on the OTC Markets website) • Post on the OTC Markets website: 4OTCQB Initial Certification (see below for details on Certification requirements) Ongoing Requirements • Meet an ongoing minimum bid price test of $0.01 as of the close of business for at least one of every 30 calendar days • Post current SEC disclosure on EDGAR, or for companies that do not file on EDGAR, post current SEC disclosure on the OTC Markets website • Post on the OTC Markets website: 4OTCQB Annual Certification
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