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L*bed started selling this stock before he even released this pick to the public. Look at his disclaimer. Looks like GBRC has set a Short Trap. Looking for $3.00 again. L*bed sucks
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CEO of Global Resources Issues Letter to Shareholders, Recap of 4th Quarter and Guidance of the Year to Come
Global Resource Corp issues State of the Company Letter to Shareholders for summary of 2006, and forward statements for 2007. January 8, 2007
AN OPEN LETTER TO SHAREHOLDERS
To: GBRC Shareholders From: Frank Pringle, CEO Re: 2006 Summary
Dear Shareholders:
I would like to take this opportunity to wish you a happy, healthy and prosperous new year, and to thank you for your continued interest in and support of our company. Last year was an exciting transition year for our Company in so many ways. We effected a reverse merger and entered into the domain of public trading companies, where we were able to access the capital markets, and to raise financing for the development and marketing of our proprietary technology in the energy field. As a part of the merger, we changed our name to Global Resource Corporation. Our new name more accurately reflects the true nature of the breadth and scope of the applications for our patent pending technology. Post merger, we acquired Virginia based Equipment Service Parts, Inc., (ESP) a specialized tooling and manufacturing firm. This acquisition generates in excess of four million dollars in annual revenues, as well as further reduces equipment costs, thus making us more competitive. In July we accepted delivery of our test unit which generated results that exceeded our initial expectations through the use of our revolutionary patent pending technology. We cracked refinery waste oil and were successful in removing all but .01% of the hydrocarbons from oil drilling cuttings. These results were confirmed by Intertek Plc, one of the world's leading independent testing organizations. Our test results, and the release of the information throughout the industry, resulted in a request from one of the world's leading petrochemical companies to deliver a specifications report for a microwave unit, using our patent pending technology, capable of processing 10 tons of oil drilling cuttings per hour. Upon the successful installation and operation of this unit, this company plans to purchase 40 more units. We also proved that we could successfully and economically gasify and remove oil from shale. These results led to our first contract for the sale and development of the first pilot plant using our proprietary technology. Qcell Limited has agreed to purchase a continuous feed shale cracking system. Upon the successful operation of the pilot plant, Qcell plans to have GBRC build a full scale plant capable of processing three million tons of shale a year. Our Company was accepted into the US Department of Energy's Rocky Mountain Oil Field Testing Center Program in which we will use our technology to extract oil from previously capped wells. As part of the testing process, we will be assigned a government owned and capped well, as well as funding to assist in the use of our microwave technology to extract old from these previously capped wells. As much as 65% of the oil in a typical oil well is too heavy to extract through conventional means and is therefore left in the ground when the well is capped. Because the oil is not considered to be conventionally extractable, it is not even included in the US oil reserve estimates. One of our most exciting accomplishments of the year occurred as the year came to a close. It involved the commencement of negotiations for a contract for the sale of 50,000 tons of tire chips, to a leading US Energy Producer, at a price of $35 a ton. The tire chips will be used as tire derived fuels in the company's power producing operations. Within the next few weeks we will announce that our Tire Derived Fuel deal has been finalized Being affiliated with such a prominent energy player devoted to helping develop emerging technologies can only help increase our exposure both among other energy companies and the public in general. We also added some tremendous personnel to our team in 2006. Dr. Ram B. Roy joined our scientific board and agreed to serve as a consultant to the company. Dr. Roy brings to GBRC his vast experience in both research academia and the private sector where he led projects with several leading scientific companies. Dr. Roy's extraordinary experience in both the scientific and management sides of business will be invaluable as we continue to grow. We also added several prominent business and civil leaders to our Board of Directors including lobbyist Fred Clark. Fred brings to GBRC his vast experience in investment banking and finance. His presence on our board will greatly enhance our ability to effectively navigate through the murky waters of governmental agencies. In my opinion, 2007 promises to be a pivotal year for GBRC in the following ways: * We anticipate that we will announce that our Tire Derived Fuel deal has been finalized; * We anticipate our pilot plant for the processing of shale to be fully operational and at 100% capacity; * We will continue to look for strategic partners and additional acquisition candidates that will increase our economies of scale * We anticipate additional contracts for the sales of our technology; * We look forward to our joint venture with the US Department of Energy.
We had a great 2006, however I believe that as good as it was, we are on the brink of some exciting breakthroughs that will not only benefit all of us as shareholders of the company, but will make us proud to be involved in a company that will have an impact on the energy and natural resources of the world in order to make it a better place for all of us. Once again I would like to thank you for your support.
Very truly yours,
Frank Pringle Chairman and CEO, Global Resource Corp.
About Global Resource Corporation:
Global Resources has a patent pending process that allows for removal of oil and alternative petroleum products at very low cost from various resources, including shale deposits, tar sands and waste oil streams with significantly greater yields and lower costs than are available utilizing existing known technologies. The process uses specific frequencies of microwave radiation to extract oils and alternative petroleum products from secondary raw materials, and is expected to dramatically reduce the cost for oil and gas recovery from a variety of unconventional hydrocarbon resources. Global's technology will not only be developed to extract oil from shale, but from depleted oil fields in the US and elsewhere, many of which still contain more than half of the hydrocarbons originally in these fields, because the residual hydrocarbons are too viscous to extract with conventional technology.
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