Here is the first half of an old email from Ron. I couldn't fit the whole thing on the field.
Subject: GRNO #4
From: Ronald Reece <reecerd@erols.com>
Date: Thu, 22 Aug 1996 00:35:57 -0400 (EDT)
Howdy All,
I just finished a conference call between Bill Carraway, Myself, and
Marty Huppert, who is my associate with a background in Chemical Engineering
and extensive knowledge of the Waste Oil reprocessing business. I would
like to start off by saying that the results of this and each past
conversation with Bill has been very positive and the opportunities for
significant appreciation of stock value are extensive, especially for those
who choose to hold for the next 2-3 years.
From the assessment of my colleague, there is little doubt that the
process does exactly what Bill claims that it does. The EnviroEconomics
processor was operational in 1994, and producing product at a ratio of 70%
Diesel and 20% #3 fuel oil. They had been forced to shut down for the past
14 months as they resolved a local dispute over environmental emission
standards, but they now have met all requirements for a permit to operate
at their new location.
They are in the process of selling their R&D 400/gph (gallon per
hour) processor to a limited partnership, in which GRNO retains 10% interest
as general partner. The units are selling for $50,000 apeice with a
projected return of 34-60% dependent on the rack price of #2 diesel. This
excludes any additional revenue gained from the sale of the #3 fuel oil.
Sound too good to be true?? I'd thought the same thing and have been
putting Bill Carraway, Spencer Maus, and Bo O'Brien through hell having them
educate me. They have 99% convinced me and the only reason I reserve the
1% of doubt is so that I have something to lose when I see the reassembled
processor/converter come back on line in late Sept or early Oct..... :0)
In future editions, Marty and I will be dealing with different
aspects of the company and the waste oil conversion process. He will
attempt to address the technical aspects while I concern myself with the
impact of upcoming events on the company's prospects. Obviously there will
be overlap, but I hoped that bringing in a "ringer" would lend a sense of
credibility to our discussion. (Is that self-deprecatory or what??? <g>) |
