>I personally researched the April 30, 1996 GRNO press release
>announcing financing of several units to Specialty Recovery Systems.
>The press release also stated that the Brazilian Development Bank
>was investing 1 million dollars into the GRNO project. None of the
>information in the release came to pass.
Bob,
You're correct. This deal has not yet panned out. It was being worked out through a distributor in Colorado who had a relative that worked in Brazil. I do not believe that this scenario is still in "play".
However, as I understand it, the acquisition of Approved Oil Services is still on the front-burner. However, there is no reason to acquire them at this time until there is a processor ready to be located in Denver. But that is Bill's decision and he is directing the timing of this event. I know that Bill maintains ready contact with the owner of AOS.
For those that are interested, you can contact Spencer for a fax of the article that ran yesterday in "The State" the newspaper out of Columbia, SC. It is available online to those folks who wish to set up a credit card account with Infinet for downloading priviledges. $0.25 per download.
thestate.com
About my response to Josh (since others are commenting on my curt remarks.)
Here is what he stated. "Ron, since I do not believe that Norman would lie, I now have the answer to my
question. Their last 10 Q stated that they had no insurance and I haven't seen anything
since then that said they had gotten some."
It should be relatively easy to infer that Josh believes that someone actually *would* lie, either the company or myself (since I had previously answered his question regarding the status of insurance for the limited partnership (I didn't have the status for the company). Thus, my rather sharp response.
All I was stating was that instead of stirring up a hornet's nest, one should indulge their curiosity once and a while and contact the company's representatives. 847-266-2055
Implying that one can trust someone on this thread over the providers of the information is not logical. Now I would agree that if you want to see a copy of the company's insurance policy, I suggest that you coordinate this with GRNO, and would suggest that you obtain a copy from each and every company that you ever invest in. (you might want their power bills, expense account records, credit check documentation, vacation records, personal brokerage account info for each officer... and so on. I hope that everyone understands where to draw the line between having faith in a company and looking under each and every rock.
The company's response to these kinds of spurious requests will be to suggest that you sell your GRNO stock. They don't have the time to respond to each request for documentation. And I know that the large company's don't respond to these types of requests.
Would you??
Regards,
Ron |
