Hey all,
This is the edition of my newsletter that Charlie was referring to here for all of the world to see. It pretty much sums up my opinion and rationale for being in volved in this stock:
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Howdy all!! 4 Dec 96
I also thought about naming this edition: "101 ways to Self-Destruction", but I thought it too direct....:0) This edition is somewhat lengthy, (Sorry..) BUT IMPORTANT!!, but I think sums up my opinion on GRNO. And maybe what is causing the decline. PLEASE read it in its entirety.
First however, I received this email from Spencer and Bo this afternoon:
""There is an individual who had previously recommended GRNO who is calling shareholders and saying he/she has sold all of his/her GRNO stock and saying you had better do the same. He/she is claiming to understand that the GRNO operation will not come on line when expected, and that he/she had doubts about the viability of the process or the plant.""
""The facility and plant WILL BE OPERATIONAL the week of December 16th, and we have 3rd party reports confirming that the process and plants do work. As I said once before, people who experience only professional and personal failure in their lives can not stand to see others succeed!""
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I have spoken with them about this issue this afternoon and while they have their speculations as to why this person would want to spread such nasty rumours about this company, for legality reasons, MicroCap is refusing to mention names.
However, I have heard through 3rd party confirmation that certain large shareholders of GRNO are being called by this "person" and told the above. If any of you have been called by this "person" and told the same, I would appreciate your contacting myself (through e-mail coordination, of course) and Spencer and Bo, 847-266-2055 Email: MicrocapCC@aol.com. They would LOVE to hear your story. One person testifying to this makes it "his word vs. their word". More testimonies make it circumstantial evidence, while a series of phone calls stating the above spurilous rumours make it "preponderance of evidence" and thus, ripe for litigation.
I have been involved in this company's stock since June. I have spent the countless hours, and countless $$$'s on long distance calls in order to maintain vigilance on the prospects and progress of Green Oasis. I have always encouraged each and everyone of you to do the same and not to just "take my word on it".
In forming my opinon on this particular speculative stock, I have taken into account the following:
1.) The technological viability of the EnviroEconomics(tm) process through consultations with qualified chemical engineers who verified the basic process technology.
2.) Documented evidence of product quality, via lab tests performed by Flour-Daniel in Charleston.
3.) Documented evidence of product sales from the R&D unit, including photocopies of invoices and checks from customers.
4.) Legal documents regarding the now dismissed lawsuit with LifeSource (under very favorable terms to GRNO), the still pending lawsuit/counter-suit with Environmental Oil Services in Idaho, (Another story that I personally opine will be resolved in GRNO favor, but the "jury is still out" figuratively speaking. I understand that discovery has yet to be performed on this case)
5.) A personal site Inspection performed at the companies invitation. What I saw, and who I met, during this trip provided me renewed confidence that GRNO is on track to resuming operations by the middle of December. Additionally, a chance meeting with an original investor of GRNO from its days as a private concern also provided personal testimony that the process did work in 1994 and that there should be no reason to doubt it would work again in December.
6.) Finally, and most importantly my personal observations of Bill Carraway and GRNO's representatives integrity and responsiveness to shareholder concerns. The level of disclosure and personal attentiveness to mine and shareholders' questions and concerns, I believe, have been outstanding. I have been involved in a number of stocks, and performed the role of SAC (shareholder action committee) moderator for another company and suffered only half-truths and deception during the experience. That is why I ceased that publication.
GRNO and MicroCap have been quite responsible with their handling of the companys' promotion and preservation of shareholders' value. The very fact that they haven't diluted the stock through S-8 options, in order to hire some NYC boiler room promotional operation to pump up the stock price should be one hell of an indicator that this is not a scam bent on helping original investors to "bail out" ( I could name another company that seems to be engaged in this, but I won't... :0) The fact that Bill continues to pump in his time and money, while not receiving a salary, should be another "NO DUH..." observation we should consider. If you don't believe in GRNO, you should look at the man who has sustained this company and kept it from dying for the past two years and holds 47% of the stock. If it was a scam, logic would dictate to me that he would cut his losses, or find a way for the shareholders to pay for the units reassembly. In fact, he would HAVE TO hire a really SLICK promotional company in order to provide him with an exit strategy for his holdings. (Tough to sell 2 million+ shares in this environment and at this price. It would be pretty stupid to do as well)
Of all the things that I require in performing this role as SAC moderator, I require disclosure of financials, dilutive stock transactions, (ie.. REG-S, S-8..etc.), PERSONAL INTEGRITY ("lie to me once, shame on you, lie to me twice, shame on me...."), and a strong investor relations effort. I can brook engineering delays, Hurricane Fran, delays in part deliveries, and just about anything else, but I hate being deceived. It happened with MUCP, (in my opinion), and I was able to get out with a substantial profit. Everything that I have said has been born out, and I believe that my record, and its recently published financials, reveal this.
You, as shareholders, need to make the same assessments for yourself. You need to build confidence in this investment as I have. I will be your guide, and offer my personal opions and findings, but as the saying goes, "........I can't make you drink"... :0)
In sum, what we have here is a case of "Sour Grapes". This "person" will recommend a company so long as it is to his/her advantage. However, when he/she can no longer be a "player", this person will spread rumours and half-truths either as a means of exacting revenge for "self-inflicted wounds" (intentionally left vague), of as a means of shorting the stock, so that their position can be covered at a lower price, AT YOUR EXPENSE. It is why I feel this person is on the path of SELF-Destruction.... :0|
However, "Life is like a wheel..... Eventually, it all comes around...." This person will not "scare" me out of my GRNO position. To me it is a matter of principle, and while many of you may call this foolish given the opportunity cost I suffer, by not selling and buying back at a lower price, I believe that I have to make a stand somewhere. I invest in speculative companies because I see potentially large upside when the all of the variables equal the risk involved. I believe that GRNO has gone to great pains to provide us with the information to make a strong rational decision on the viability of this company. If you don't agree, there are plenty of other opportunities out there waiting for you.... eg. SEXI, IMEA, IDID, IAUS, BCHPE, shall I continue?? I'm tired of being burned because of ignorance. All stocks have an element of risk. Look at those who bought MU at $90 (I bought at $54, sold at $34), or like the guy I met the other day who still holds IMPX at a cost basis of $19. You hedge your risks by DOING YOUR RESEARCH!!!
I feel good about GRNO, and personally speaking, I think this company will be an extremely important player in the waste oil/Energy/Environmental sector within the next two years. I feel confident with my decision. Now the question is... Have you done all of the research necessary to sustain yours ??? Do you think this stock is a scam, or do you think that this decline has presented a pretty nice buying opportunity??
If the fundamentals have only gotten better, why should you complain about the opportunity to buy more at a lower price?? :0)
Spencer restated the company's position. The week of Dec 16th, (monday), Unit #1 will be up and running.
BTW, I understand from a certain group of GRNO shareholders that tomorrow's market in GRNO may get a little interesting. It seems that they see the current situation as a buying opportunity. And if this person is "short" this stock, he/she will be covering shortly. They know what this company is really all about. I know that for a fact. I had heard the same recommendations muttered from his/her lips.
Keep an eye out. And thank you once again for reading this winded essay. I was reading it to Bill Carraway for his comment this evening and he said that I should send it unedited.
Regards,
Ron
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The GRNO Gossip Forum newsletter is available to be reposted or otherwise freely transmitted. However, the mailing list remains private proprietary information and will be excluded from any postings. Ronald Reece retains all rights to the use and/or release of membership addresses. All matters that I consider to be of a sensitive nature, or contain personal communications from GRNO management shall be considered EMBARGOED, and will be so notated, in order to protect company officials from frivolous accusations from the SEC. All opinions expressed are either my own or those of participating members, and are of informational value only. Each
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