Veridium's 10K is due tomorrow, or in two weeks if they requested an extension.
Some Facts and figures about Veridium.
Veridium has successfully eliminated all of its pressing debt by converting it to equity.
Outstanding Shares common stock: 192,035,217 shares
Outstanding preferred series D stock: 1,000,000 shares
Fully diluted shares common upon redemption of the series D preferred Stock: 640,117,390
I talked to Kevin Kreisler this morning and while he could not be anything but vague with his answers I feel he expects more than $25,000,000 in revenue for this year, probably less than $50,000,000 when I suggested that as a possibility. He assures that Veridium is capable of financing the extensive growth that is occurring with the sales of the Corn Oil Extraction System. He also stated that there would be a shareholder letter addressing some of my concerns and the concerns of other investors he has talked to recently.
It is of note that by calling Greenshift at 888-895-3585
selecting option 7 and keying in the first 4 digits of his last name 5734 (Krei) I rang directly to his desk and he answered himself. He is very patient and cooperative, even giving me his cell phone should I have immediate concerns that I would like addressed.
Some statements of note:
I asked about the Sequestering technology, a pilot plant is in being constructed and there have been several inquires from corn to ethanol processors about this technology.
It is my opinion from our conversation that Kevin feels there will be sales this year. Though Mr. Kreisler did not state or intentionally imply that. He was though bullish on the prospect of sales.
He seemed to feel that the biggest developmental area for Veridium is ethanol plants.
He also expressed a positive view on the prospects for more sales of meat packing waste fat recovery sales. He agreed when I expressed the thought that the animal fat recovery represents a negative feed stock cost product, as Veridium not only recovers the fat for biodiesel but also is paid by the packing plant for reducing the cost of waste disposal.
He would not state projected gross profit margins for the COIS(tm) but indicated costs of more than 30%. So I (My guess) is that gross profit will be in the range of 60%.
My calculations (educated guesses) show earnings for 2006 at about $14,000,000 minus continuing extraordinary expenses for business reorganization(?).
14,000,000 / fully diluted shares 640,117,390 = 2.15 cents per share earnings before extraordinary expenses.
At today's stock price $0.0366 right now as I write that is a price/earnings ratio of 1.7. That is excellent for a stock with an expected growth this year of about 300% in Revenue.
As always do your own due diligence.
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