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To: Sergio H who wrote (1337)	1/5/1998 7:09:00 PM
From: BlueSpruce	Read Replies (2) \| Respond to of 2377

>>David, can you bring us up to date on GRNO developments?<< Oy Vey! What a task. As one of the bagholders, I'll give it a try. It's still alive but after being put through the wringer by the SEC, the company is mute beyond it's press releases. The "machine" is approved for operation at a low output level and the word from many whom I respect is that it does indeed work as described. Undoubtedly, operational problems will pop up but at this point it seems to me they will fall in the "tweaking" area. The company has a lead to a buyer in Turkey and has extended the deadline twice recently for a commitment by that buyer due to normal political hangups. I worry that this is their only real lead at this point but those feelings are probably influenced by simple FUD due to a lack of real information.. A flurry of press releases recently by the company is a very strong indication that they have no intention of going away without a fight. There is a very spectulative sub-plot on the thread concerning two companies wrestling to take over Safety Kleen. One of them is based in S. Carolina along with GRNO. Makes for interesting spectulation concerning a tie-in with GRNO but as of yet there is no information to support such dreams. In short, I'm still a believer. Personally, if I had fun money sitting around I would definitely put some more into this, but I don't and the burden of holding this bag for this long is great. Great enough to prevent me from averaging down even though I believe this will all work out. They are at a critical crossroad however. It's either sink or swim at this point. dz "bagman"