Extraction Patent Ruling Favors GreenShift
A court ruling has been announced in favor of GreenShift on its ongoing patent battle against several ethanol producers and other entities for infringement of GreenShift’s corn oil extraction processes. Defendants in the litigation argued that GreenShift’s patents are limited to the recovery of at least 95% of the oil present in the concentrated thin stillage feed stream and that there are no infringement occurring because they are recovering less than 95% of the oil. A court ruling has issued a Supplemental Claim Construction Order clarifying the patents do not require recovery of any particular percentage of oil present in the stream.
Good Luck To All!$!$!$!$!$!$!$
Sentiment: Strong Buy
The judge has ruled against ICM's "prevost" and "95%" arguments. ICM's excuse for infringing has been debunked. In the end, patent infringing REX, VLO, and PEIX will license with GERS. The only question is, how many more millions will the infringers waste defending against lawsuit's they're clearly losing?
Sentiment: Strong Buy
Let's not forget, ICM told the infringers that under a proper interpretation of the patents claims, ICM's systems don't infringe. The judge interpreted them in GERS' favor and against what ICM led the infringers to believe. ICM has fired more than half of their work force since this lawsuit began. They're in way over their heads with the ability to indemnify the entire industry. This is likely the reason VLO has not continued the roll-out of the ICM POS to the rest of their plants. That and the fact it extracts 70% less oil in violation of GERS' patents. That's all that matters here.
Sentiment: Strong Buy
How come you never post the dates Slash. This was back in early Feb, You sir are a pumper and nothing more. You deliberately omit the dates and then add your own little spin on almost everything you post. You make a sad attempt to make everything related to GERS when in fact they are just industry releases or other company pr. Prove me wrong Slash because my proof is in what you just posted. Like I said before your credibility has become worthless.
ALPHARETTA, Ga., Feb 01, 2013 (BUSINESS WIRE) -- GreenShift Corporation (otcqb:GERS) today announced the issuance of a significant ruling in its ongoing prosecution of ethanol producers and other entities for infringement of GreenShift's patented corn oil extraction processes, including U.S. Patent Nos. 7,601,858, 8,008,516, 8,008,517, and 8,283,484.
GreenShift believes that the ruling dramatically strengthens its case for infringement against any person or entity recovering or facilitating the recovery of corn oil from the concentrated thin stillage by-product of ethanol producers.
All of the following defendants in GreenShift's current litigation argued that GreenShift's patents are limited to the recovery of at least 95% of the oil present in the concentrated thin stillage feed stream, and that they are consequently not infringing on GreenShift's patents because they are recovering less than 95% of the oil present in their concentrated thin stillage feed streams: (1) Ace Ethanol; (2) Al-Corn Clean Fuel; (3) Blue Flint Ethanol; (4) Bushmills Ethanol; (5) Chippewa Valley Ethanol; (6) Heartland Corn Products; (7) Lincolnway Energy; (8) United Wisconsin Grain Producers; (9) Iroquois Bio-Energy Company; (10) Cardinal Ethanol; (11) ICM; (12) Big River Resources West Burlington; (13) Adkins Energy; (14) Big River Resources Galva; (15) Lincolnland Agri-Energy and (16) David Vander Griend.
whats your opinion of the 8k?
On March 29, 2013, the Registrant's management concluded that the financial statements of the Registrant for the year ended December 31, 2011 that were included in the Registrant's Annual Report on Form 10-K for the year ended December 31, 2011 should no longer be relied upon. The conclusion was based on the discovery of a miscalculation in the Registrant's weighted average common shares - diluted on the Consolidated Statements of Operations for the year ended December 31, 2011.
The 2011 Consolidated Statement of Operations has been restated in the Registrant's Annual Report on Form 10-K for the year ended December 31, 2012, filed on April 1, 2013. The following table shows the effect of the restatement.
Year Ended December 31, 2011
Statement of Operations As reported As restated
Weighted average common shares
outstanding - diluted 16,695,099 1,502,132,224
Earnings per share - diluted:
Income from continuing
operations $ 0.61 $ 0.01
Net income per share - diluted $ 0.62 $ 0.01