Looking at the Financials, it looks like they are headed down the same path as VSUN, PEIX, BIOF, and most of the other small-cap biofuel companies out there, of course I am talking about bankruptcy court.
I am not being facetious, this is a serious inquiry. At least this is a real company, unlike some that I have seen hyped lately, such as NNFC, what a scam. Do they have some kind of equity financing in the works, because otherwise they look like they have another couple of quarters top, before the ceiling caves in.
If you quote from a filing you are considered a raging pumper on this board so even with a PR apparently not too many people know about this:
Under the terms of the ECCA Agreement, CleanBioenergy agreed to invest up to $38 million in GS NextDiesel to help deploy twelve corn oil extraction facilities ("COES Facilities") and to double the capacity of GreenShift's 10 million gallon per year Michigan-based NextDiesel biodiesel refinery to 20 million gallons per year.
CleanBioenergy Partners, LLC, a Delaware limited liability company("CleanBioenergy"), a newly formed joint venture company owned by two members: one is an affiliate of GE Energy Financial Services, a unit of General Electric Company, and the other member is an affiliate of YA Global Investments, L.P., a private investment firm managed by Yorkville Advisors, LLC.
GreenShift believes that the Initial Equity Contribution Date will occur in January 2009.
ADRIAN, Mich.--(Business Wire)-- GreenShift Corporation (OTC Bulletin Board: GERS) today announced that it has executed agreements to receive a $38 million investment to produce 20 million gallons per year of biodiesel from corn oil extracted from ethanol plants.
Under the terms of the agreements, GreenShift will receive an investment of $38 million in a new GreenShift joint venture subsidiary that will use the proceeds to build twelve corn oil extraction facilities and to expand the capacity of GreenShift’s NextDiesel biodiesel refinery in Adrian, Michigan to 20 million gallons per year.