14.11.07

14.11.2007: Meldung: GreenShift Corporation: Summary Impact of Restructuring

GreenShift Releases Summary Impact of Restructuring
Monday November 12, 10:17 AM EST

NEW YORK, Nov 12, 2007 -- Kevin Kreisler, chairman and chief executive officer of GreenShift Corporation, issued a letter to the shareholders of GreenShift and its subsidiaries on November 9, 2007 that provided an update on GreenShift"s restructuring and recent growth.

This announcement is to provide an outline of the specific impact of the steps taken to accelerate the completion of GreenShift"s restructuring on the shareholders of GREENSHIFT CORPORATION (GSHF).

Additional detailed background and other information pertaining to the disclosures that follow are provided in GreenShift"s November 9, 2007 shareholder letter, which was filed with the Securities and Exchange Commission on a Form 8K by GreenShift and its subsidiaries and will be available on the SEC"s EDGAR website the morning of November 13, 2007. The letter is currently available on GreenShift"s website at www.greenshift.com.

IMPACT ON GREENSHIFT SHAREHOLDERS

-- Cancellation of Pending Mergers

The two previously announced GS AgriFuels - GS Energy and GreenShift - GS CleanTech mergers were canceled as of November 9, 2007.

-- Transfer of GS AgriFuels and GS Energy to GS CleanTech

On November 9, 2007, GreenShift transferred its 60% stake in GS AgriFuels and 80% stake in GS Energy to GreenShift"s 80% owned GS CleanTech. GreenShift received no consideration in return for these transfers to GS CleanTech.

-- Distribution of GS EnviroServices and GS Energy Shares to GreenShift Shareholders

GreenShift will distribute 2,000,000 shares of its common stock in GS EnviroServices and 1,000,000,000 shares of common stock in GS Energy to the minority shareholders of GreenShift. These distributions will be completed as soon as possible but in any event within the next 45-60 days.

-- Distribution of GS CleanTech Shares to GreenShift Shareholders

GreenShift will convert out of its preferred stock in GS CleanTech into GS CleanTech common stock and then distribute 100% of its 80% stake in GS CleanTech on a pro-rated basis to all of GreenShift"s shareholders. This distribution will be completed as soon as possible after GS CleanTech"s pending 1:50 reverse stock split becomes effective, which is hoped to be within about 45-60 days.

-- GreenShift"s Holdings After These Transfers and Distributions

GreenShift will cease to have any direct ownership interest in GS CleanTech, GS Energy, GS AgriFuels or GS EnviroServices at the conclusion of the above transfers and shareholder distributions, but will retain its 80% stake in GS CleanTech until these shares can be distributed to GreenShift"s shareholders - i.e., as soon as possible after GS CleanTech"s reverse stock split becomes effective.

-- Amount and Current Value of The Shares That Will Be Distributed To GreenShift Shareholders

The holders of GreenShift stock as of the record date for each of the GS EnviroServices, GS Energy and GS CleanTech distributions will receive shares in each company based on the number of shares owned in GreenShift as of the applicable record date. A holder of 10,000 shares GreenShift common stock as of the record date for each distribution will receive the equivalent of about 50,200 (pre-split) shares of GS CleanTech, 50,000 shares of GS Energy and 100 shares of GS EnviroServices.

The following chart shows the total value of these distributions to a holder of 10,000 shares of GreenShift common stock at recent market prices as if the distributions were each completed today; the GS CleanTech shares are shown on a pre- and post-split basis:

Distributed Shares
Impact of ----------------------------------------------------
Distributions to
GreenShift
Shareholders GreenShift GS CleanTech GS Energy GS EnviroServices
----------------- ---------- ------------ ---------- -----------------
Pre-Split Shares 10,000 50,200 50,000 100
Current Market
Price Per Share $ 0.0280 $ 0.0080 $ 0.0005 $ 0.1100
Current Market
Value $ 280.00 $ 401.60 $ 25.00 $ 11.00
Share Amounts as
if After
Completion of
1:50 GS
CleanTech
Reverse Split 10,000 1,004 50,000 100



Note that specific current financial data and other relevant disclosures for each of GS CleanTech, GS AgriFuels, GS EnviroServices and GS Energy are available in each company"s periodic securities filings, which can be found online on the SEC website.

Additional disclosures regarding each of GS CleanTech, GS AgriFuels, GS Energy and GS EnviroServices and the specific impact of GreenShift"s restructuring on the shareholders of each company are available on separate shareholder disclosures made by each company today, which additional disclosures are available online at www.greenshift.com.

About GreenShift Corporation

GreenShift Corporation develops and supports clean technologies and companies that facilitate the efficient use of natural resources. GreenShift"s ambition is to catalyze the rapid realization of disruptive environmental gains by creating valuable opportunities for a great many people and companies to use resources more efficiently and to be more profitable. Additional information on GreenShift is available online at www.greenshift.com.

GreenShift currently owns 80% of GS CleanTech Corporation (GSCT), which company now holds majority stakes in each of GS AgriFuels Corporation (GSGF), GS Energy Corporation (OTC Bulletin Board: GSEG) and GS EnviroServices, Inc. (GSEN).


CONTACT: GreenShift Corporation

Phone: 212-994-5374 Fax: 646-572-6336 fax Email: investorrelations@greenshift.com Web: www.greenshift.com or Investor Relations: CEOcast, Inc. Andrew Hellman, 212-732-4300
Nach oben scrollen
ECOreporter Journalistenpreise
Anmelden
x