Another subsidiary. Do you see any share spinoff dividends happening? I am interested in the energy co. Do you know anything of their assets? TIA.
Greenshift Announces the Formation of Tornado Trash Corporation
Thursday September 8, 8:33 am ET
MOUNT ARLINGTON, N.J.--(BUSINESS WIRE)--Sept. 8, 2005--Greenshift Corporation (OTC Bulletin Board: GSHF - News) today announced the formation of Tornado Trash Corporation ("TTC"). TTC is a development stage company whose focus is to develop and deploy innovative green technologies designed to minimize and eliminate the practice of landfill disposal by converting trash into valuable metals, chemicals, plastics, fuels and energy.
GSHF plans to license an array of green technologies to TTC, including the Tornado Generator and Ovation Product's Clean Water Appliance. GSHF plans to take TTC public in the fourth quarter this year and GSHF intends to pay a dividend of the newly public TTC shares to GSHF shareholders at that time.
TTC plans to staff up during the balance of Q3 2005, and then expects to acquire its first site co-located at a small municipal sold waste landfill in the eastern U.S. In addition, the company's objective is to design and introduce residential and commercial scale Tornado Waste Processing Appliances. INSEQ Corporation (OTC Bulletin Board: INSQ - News) shall play a vital role in the design and production of these devices.
Kevin Kreisler, chairman and chief executive officer of Greenshift Corporation, adds "While the technology has demonstrated an environmentally friendly and cost effective method to eliminate the need for additional land fill sites, our ultimate objective is to scale the technology for residential and commercial applications. Imagine the quantum changes made when these Greenshift Technologies are taken to the source (our homes and businesses). We essentially eliminate the need for Water, Sewage and Trash Removal Infrastructures."
About GreenShift Corporation
GreenShift Corporation is a publicly traded business development company (BDC) whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
BDCs are regulated by the Investment Company Act of 1940 and are essentially publicly-traded equity funds where shareholders and financial institutions provide capital in a regulated environment for investment in a pool of long-term, small and middle-market companies through the use of senior debt, mezzanine financing, and equity funding.
GreenShift plans to use equity and debt capital to support and drive the value of its existing portfolio of companies and to make investments in a diversified mix of strategically compatible growth stage public and private businesses and technologies. GreenShift's current portfolio includes investments in the following environmentally proactive companies:
Veridium Corporation (OTC Bulletin Board: VRDM - News);
INSEQ Corporation (OTC Bulletin Board: INSQ - News);
GreenWorks Corporation;
Ethanol Oil Recovery Systems
GreenShift Industrial Design Corporation;
Coriolis Energy Corporation;
Mean Green BioFuels Corporation;
TDS (Telemedicine), Inc.;
Sterling Planet, Inc.;
Ovation Products Corporation;
TerraPass Inc.
In addition, GreenShift hopes to add investments in wind power, hydropower, practical centralized applications of hydrogen power, alternative fuels, infrastructure and mining to its portfolio during 2005 and 2006.
Additional information regarding GreenShift Corporation is available online at www.greenshift.com. |
