Replies to post #51693 on Greenshift Corporation (GERS)

[Houstonian]

Well I guess the cat is out of the bag now, we are a not-for-profit organization. Who knew? Oh wait, I guess we all did.

[Houstonian]

TMH0312,

From the article you posted;
"A benefit corporation differs from a typical for-profit corporation by allowing the entity to consider how it can provide a greater good for the public, otherwise known as a public benefit. An advantage of benefit corporation legislation is that it allows the entity more freedom to provide a benefit to society by not being required to have a single goal of maximizing the profit of its shareholders. Although these companies still strive to make profits to continue their business, this legislation allows them to consider society's needs as well as the needs of their employees in conjunction with the desire to make a profit. The benefit is that this change in corporate purpose allows entrepreneurs and investors to promote social interests while still generating an investment return."

So when do we get to the part about "generating an investment return."

Personally I think this whole notion is ridiculous. Businesses exist to make money. Not for profits exist as charitable organizations. Combining the two makes no.

And after over a decade in this losing venture, the fact that the company's focus now is to consider society's needs first when they've blown through tens of thousands of my dollars I find insulting.

Stupid, self serving move Kevin. IMO.