Ron, a 'class action' requires 'one' (1) shareholder to be intiated - that shareholder being representative of the class. Later in the process the court will require that the 'class' be 'certified' as a class - proof that a class does exist - but that usuallly comes well after the start of the litigation. Probably would represent all purchasers of shares from the date of the release of the first 'misleading' information through the May 9, 1997 suspension of trading.
Re the processor - isn't GRNO the general partner, and entitled to 10% of the net income thereof?
And the technology and patents belong to GRNO, not the limited partnership.
And in a lawsuit GRNO would not be the only party - there would be, just as a start, GRNO's insurance companies, GRNO's officers and directors personally - and their insurors, and possibly other individuals and organizations alleged to be participants in any alleged wrongdoing - and their insurors.
As far as the documentation - well, if everything was all right and proper, then why isn't GRNO saying so? As I recall, even you were surprised to learn that Bo is RecOil. If that's true, then IMHO that's the 'smoking gun' right there.
Bo may well have 'put his money where his mouth was,' but the operative question is whether his multitude of relationships and investments were properly disclosed by GRNO in press releases and other public information.
As for the processor - progress appears to be happening - but IMHO commercial viability of this #400 unit will be demonstrated when the unit runs 24 hours a day for 30-60 days straight producing in spec at the 400 gph level - not just running a little bit here and a little bit there.
And again, IMHO, the SEC investigation is a cloud on the company, but not on the equipment or the technology. Demonstrate a commercially viable processor, as per above, and IMHO there will be 'real' buyers for the equipment, unrelated to Bo.
By the way, what was the deal with those $3 GRNO warrants that came with a limited partnership interest? Don't they have a limited life?
Most appreciative of your efforts, research & DD, even if I disagree with your unbounded optimism that all's right with GRNO in this matter with the SEC.
Bill Fuller |
