Veridium landed a 560k deal. It's not a lot, but it's more than the day before, and hopefully it'll lead to more installments in the future.
Posts: 48 | Registered: Jan 2006
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posted
Why not play VRDM and GSHF together for a double play?
Indytrader
-------------------- The views and opinions expressed here are solely those of Indytrader. Make your own decisions based on what's right for you and your money. Posts: 323 | From: Indianapolis, Indiana | Registered: Feb 2006
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Veridium to Sell Corn Oil to Mean Green BioFuels for Conversion to Biodiesel; Pact Expected to Increase Veridium's Corn Oil Revenues by More Than 25% 2/22/2006
NEW YORK, Feb 22, 2006 (BUSINESS WIRE) -- Veridium Corporation (OTC Bulletin Board: VRDM) today announced its plans to sell high grade corn oil to Mean Green BioFuels Corporation ("Mean Green") for refining into biodiesel fuel.
Earlier this month, Veridium and Mean Green announced their execution of a joint venture agreement pursuant to which Veridium was assigned the exclusive worldwide rights to what was then Mean Green's patent-pending Corn Oil Extraction System(TM). In return, Veridium agreed to provide Mean Green with right of first refusal rights to its various biodiesel feedstocks including the high grade corn oil that Veridium extracts from an ethanol by-product called distillers dried grain ("DDG") patent-pending Corn Oil Extraction System(TM).
Veridium's pricing model for its Corn Oil Extraction Systems(TM) is based on its provision of its turn-key systems for no up-front cost in return for long-term corn oil purchase agreements based on a fixed discount to prevailing corn oil market prices. Veridium will purchase and sell the extracted corn oil as a high grade corn oil product and generate an estimated $1.4 million in annualized revenues per ethanol facility.
Veridium will continue to generate revenues at this rate until Mean Green's first biodiesel production facility commences operations, at which point Mean Green will purchase the oil from Veridium based on a fixed discount to prevailing fuel prices. This amount corresponds to a premium to corn oil market prices and is expected to result in an estimated 25% increase in Veridium's corn oil sales to about $1.8 million per year per ethanol facility once Mean Green starts making biodiesel.
Veridium and Mean Green are both portfolio companies of GreenShift Corporation (OTC Bulletin Board: GSHF), a publicly traded business development company (BDC) whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
Kevin Kreisler, GreenShift's chairman and chief executive officer, said that "a vital aspect of GreenShift's investment philosophy is to have our various portfolio companies work together to assist each other in their respective development plans. In this case, we have Veridium out selling its proprietary Corn Oil Extraction Systems(TM) with a sales model that is profitable for Veridium today but that also secures a large volume of biodiesel feedstock at favorable prices. Simultaneously, we have Mean Green out building their biodiesel production capacity with the expectation that Veridium will own enough biodiesel feedstock to allow Mean Green to commence operations at its first biodiesel facility later this year at greater than break-even rates of production."
About Mean Green BioFuels Corporation
Mean Green intends to finance, build and operate several biodiesel production facilities in the U.S., where it will leverage its proprietary oil recovery technologies to reduce America's dependence on foreign oil by producing high quality biodiesel fuels. With assistance as necessary from GreenShift, and at the option of participating facilities, Mean Green plans to make equity and other investments in ethanol producers and other companies that use Mean Green's innovative technologies.
Mean Green plans to aggressively invest in its brand as it promotes the use of biofuels in America with the objective of offsetting the demand for fossil fuels while reducing harmful greenhouse gas emissions directly in the trenches - in as many diesel burning trucks, tractors, other heavy equipment and industrial facilities as possible.
-------------------- Trading is a blast!! Posts: 4921 | From: Rhode Island | Registered: May 2005
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posted
hey matto, just out of curiosity, how much do you make a month? you a 6-figure-a-year guy? stayin at home and doing nothing but research and trading? you seem to always have winners posted on here haha
-------------------- double commas and climbing Posts: 285 | Registered: Jan 2006
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