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GreenHunter Resources, Inc. Message Board

  • Hope I am not breaking any rules or laws, but here is a piece by piece response to Josh Young by Gary Evans:

    “…GreenHunter cut its 2013 revenue guidance…” RESPONSE: We have actually significantly increased our revenue guidance for 2013. See Press Release dated September 27, 2013.
    “…GreenHunter failed to sell the assets it planned to sell, leading to the Company “guiding up” its expected revenue…” RESPONSE: We have actually sold non-core assets this year at a substantial gain over their book value. See Press Release dated June 11, 2013.
    “…and it remains unclear how dividends on preferred stock will be funded…” RESPONSE: We have continued to pay all dividends on our preferred stock on a monthly basis and we continue to pay principal and interest on our outstanding convertible note through internally generated cash flow.
    “…One possible explanation for why GreenHunter’s former CFO (who had also been an executive at Magnum Hunter) may have left GreenHunter recently is that it appears the recent preferred issuances could be funding dividends on existing preferred…” RESPONSE: Our former CFO had worked with me for over 20 years and made his own decision to retire. We have attracted a highly experienced CFO and new accounting talent who have continued to build out our accounting department in a manner that provides timely reporting of all financial data necessary for senior management to oversee the Company.

    I have run out of room. I will post the last part as a response to my own message.

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    • back up the truck when the run stats it won't stop till 4.00

    • Last part:
      “…One other consideration worth noting—competitor Nuverra (NES) is much larger but has had similar funding and operational issues, and the previous leading provider of modular above-ground storage tanks, Poseidon Concepts, went bankrupt after admitting to falsifying financial statements. One of the reasons to invest in small cap companies is the hope that one day they might grow larger and achieve premium valuations associated with successful, mature businesses. Nuverra and Poseidon’s issues dim that hope for GreenHunter, tarnishing the case for investing in the stock and challenging the underlying valuation support for GreenHunter’s preferred and common stock…” RESPONSE: GreenHunter is nothing like either Nuverra or Poseidon Concepts. Our business models are totally different. Nuverra is primarily a trucking company that has over the past year acquired saltwater disposal wells in regions where GreenHunter has chosen to operate.

      You can get this off the GRH investor site under Investor Relations filed as an 8-K.

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