Ahhh Ron, how short your memory - or perhaps how less than well you do your due diligence.
"As you know, GRNO has been a fully reporting company for several years now. It was one of the reasons that I decided to researching them after the MSU mess and manipulation."
+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +
From the 10-QSB of June 30, 1997
"*The issuer voluntarily files periodic reports required to be filed by the Securities Exchange Act of 1934 and has done so since November, 1993."
"Availability of Information; Market for Its Stock
Although the Company has filed periodic reports with the Commission under the Exchange Act since November, 1993, it has never registered its securities pursuant to the Exchange Act. Although it presently intends to continue to file such reports, it is under no legal obligation to do so and could legally discontinue filing such reports at any time. Because the Company has not registered its securities under the Exchange Act, neither it, nor its officers, directors and 5% shareholders have filed other reports otherwise required thereunder, including reports required pursuant to Sections 13 and 16 of the Exchange Act. The Company, and, to the best of its knowledge, such officers, directors and shareholders, have no present intention of filing such reports."
The major import of the above is that GRNO is NOT a reporting company in the sense used in the '34 Act nor as it is not subject to the requirements of Section 12-g of the 1934 Act.
GRNO reports what it wants to - and its Officers, Directors and Shareholders clearly DO NOT WANT TO REPORT!
If it were a reporting company, the Officers, Directors, and 5% shareholders would have been REQUIRED to file Form 3's, 4's and 13'D's - which would have disclosed, on a relatively timely basis, their transactions (almost all sales).
Obviously they didn't, and clearly they don't wish to.
As a result the shareholders, and potential shareholders, have not had access to this VERY relevant information, which is REQUIRED of ALL reporting companies.
After all, someone might have wondered about why - when and while everything seemed rosy and the future would see GRNO at much higher prices - and who would better know or understand the potential for GRNO, that
"Since March 21, 1996, the date that the Company's common stock commenced trading on the NASDAQ OTC Bulletin Board, Mr. Carraway has sold 223,383 shares of the Company's common stock at prices ranging from $1.75 to $7.75 per share, and at a weighted average price per share of $4.18 and Mrs. Carraway has sold 209,000 shares of the Company's common stock at prices ranging from $1.314 to $7.812 per share, and at a weighted average price per share of $2.98."
something like 430,000 shares and more than $1.5 million.
Who knows - you may even have purchased some of these.
Sorry to be so blunt - but the 'impression' that GRNO is/was a reporting company may have led at least some people down the garden path.
Bill Fuller |
