Joe,
Good advice. Remember folks... If anyone thinks that GRNO is anything other than a speculative stock with high potential for future growth, they are mistaken. Sh** happens with small companies. Either they lose whatever limited institutional backing they may have, have a bad quarter, a deal falls through, or the gov't "blesses" them with a little motherly "attention".
One of the reasons that I became involved in looking at smaller companies it that this where it all begins. Someone with an idea, and the resourcefulness and willpower to make it happen. There is a whole realm of fascinating issues that face small companies that those ones that have already "arrived" no longer face. How the management performs in rough times is indicative of how they may perform in the future.
To Bill Fuller: Thanks for adding the ounce of "sugar-coating" to your comments. Nice to know we can offer varying opinions without relying on negative innuendoes and speculations of guilt "until proven innocent". Your points are all valid in the eyes of the general market at large. I believe that we can rest assured that the 8-K will address the SEC concerns. And Zeev is essentially correct in regard to Bo O'Brien. Mr. O'Brien has been extremely generous in assisting myself and others to better understand GRNO. Long before the SEC decided to look at his relationship to GRNO, I was questioning him about it. His response has always been that he has been an individual that wears many different hats in regard to his business interests. He started RecOil several years ago in anticipation of GRNO going commercial in 1994. ('93?) It didn't work out due to the problems with DHEC. Thus, when GRNO went into dormancy, so did RecOil, and Bo moved on to his other business interests. However, I admit it would have been nice to have known this when the news release was first published.
But you would really have to contact him yourself and ask him to clarify his relationship past and present to GRNO. 847-266-2055. I have been satisfied that he was not engaged in a conspiracy to manipulate or P&D this stock. Many of his shares are 144 restricted, purchased in private placements at the open market price of the moment, not at a discount as occurs in REG S's and other private equity transactions.
(I qualify the above as being the situation as both Bill Carraway and Bo O'Brien have explained it to me. If the SEC has found out differently, then I'm sure proper punishments will be exacted.)
Essentially, we will all need to wait for the 8-K to be filed. GRNO's lawyers seem to maintain a wait and see approach until the SEC makes some type of statement or takes an action against the company.
To file an 8-K ahead of reaching a point of resolution with the SEC seems pointless as NASD will likely reject GRNO's request to resume BB trading until the SEC is ready to give their nod.
At least we will have the confidence of knowing that the company has been tested by fire and purged of any problems.
Regards,
Ron |
