John--an annual meeting can't happen until GRNO can afford to get up to date on financial reporting requirements, and won't happen until there's enough money to cover the costs of printing, mailing, etc. The last annual meeting cost between $40,000 & $50,000, quarterly reports are about $10,000 apiece, and annual reports rather more than that. Say about $100,000 total, to be safe. I think it's reasonable to assume that GRNO's first $100,000--or the 2nd, or the 3rd, etc.--will not go to this purpose. Somewhere within the first million, though, after GRNO has caught up with back bills and begun to develop manufacturing processes, there will be room to accomplish at least the filing of back SEC reports--this must be done before GRNO can come off the Bulletin Board and back on one of the national markets.
=+=+=Norm |
