Pugs,
Thank you for your questions. Please note that the current configuration of the EnviroEconomics processor in Charleston, SC is designed to operate at upwards of 600-800gph. Part of the problem, as I understood from my last visit to GRNO in December is that when you have pumps designed to operate at 1000gph maximum output, but only have 275gph running through them there exists a problem with cavitation inside the pump housing. Adjustments were necessary in order to facilitate proper operation at reduced levels until the 1000 gph operating permit is finalized later this spring.
As to potential customers... any waste oil collection facility domestic or foreign is a potential customer. They already have the collection infrastructure in place, but generally sell reprocessed waste oil as #4-6 bunker oil, used in asphalt furnaces, merchant shipping... etc, at a market price of $0.25-0.40 per gallon. Through Thermal distillation of waste lubricating oil (automotive and industial), an already pre-refined product, into #2 diesel generally you can follow the current market price for #2 heating oil to locate the average seasonal price. Currently, #2 diesel/fuel oil is selling for $0.48 gallon which is unseasonalbly low relative to prices of $0.60-0.80 per gallon last winter. Also the price of feedstock waste oil is at its lowest during the low demand winter months.
This can be easily verified by inquiring with your local waste oil collectors and diesel retailers there in C. Illinois. Also, be aware that the price of #2 diesel is significantly higher in overseas markets where refining capacity is not on par with that in the US. Turkish and Hungarian parties have shown interest in the GRNO processor as a exclusive distribution agreement has been signed with MANOVA in Turkey to develop that market. We still await an impending contract and the distribution rights have been extended until March, 1998 in order to permit MANOVA the ability to negotiate the necessary legislative activity to facilitate the building of a waste oil collection and processing infrastruture in that country.
And Pugs... according to the information that I have received via OTC compliance, several Mmkrs HAVE decided that GRNO is worthy of making a market. However, they don't make the FINAL decision. They just apply as has been discussed on the RMIL thread to some extent. The Mmkrs file 15c2-11 applications and then the NASD analysts will review the package and decide when or if GRNO resumes trading on the OTC:BB.
Btw, myself and one other person noted that you typed in RMIL instead of GRNO in your last sentence before you corrected it. So this was observed, to let you know.
The reason that I, personally, don't believe that GRNO is hype is that management is still in the good old USA, has been spending exorbinant amounts of cash resouces to aggresively defend itself and its officers, and that ANY PERSON can hop on a plane or in there preferred method of transportation and visit the Charleston plant. This is something that I welcome you to do. It is something that many of have done, myself on at least 5 different occasions in the past year and a half.
No one will ever be able to provide you in writing, any assurances of the future prospects for GRNO's business. You can only analyse, observe, study, ponder, and then place your bets. We are betting on a process that when fully permitted to operate at it maximum capacity will produce 800gph of #2 diesel @$0.48 from feedstock it buys for $0.15-25 per gallon. All self-fueling, practically emission free, and based on absolutely solid physics. If you own a diesel motored vehicle, drive it down and fill 'er up and see for yourself.
I strongly encourage this. Besides Charleston is a wonderful town and the night life is something to be jealous of.... :0)
All the best and your questions are good practice for all of us who spent many months forming our opinions on the prospects for GRNO...
Regards,
Ron |
