bellwetherreport.com: The Bellwether Report Issues an Update for the exciting INSEQ Corporation 5/22/2006
May 22, 2006 (M2 PRESSWIRE via COMTEX News Network) -- INSEQ Corporation (OTCBB:INSQ), is a company that our research team will be tracking over the ensuing weeks. They recently came out with a significant corporate development, causing a market stir. The BWR Research Team will continue to bring its subscribers cutting edge research tools, and second to none customer service.
INSEQ Corporation, a publicly traded company whose mission is to directly facilitate the efficient utilization of natural resources including metals, chemicals, fuels and plastics, this morning announced that it is receiving orders from NextGen Fuel, Inc., for the manufacture of NextGen's proprietary biodiesel processing equipment.
The NextGen Fuel process is the leading modular, skid-based biodiesel process available in the rapidly growing global biofuel market. The NextGen process reduces plant capital costs by as much as 50% as compared to traditional approaches and offers significant operating benefits. The process can also be shop-tested with customer-specific feedstocks before it ever leaves the INSEQ plant floor and can be shipped to customers in as little 14 weeks. This allows NextGen and INSEQ to significantly reduce customer risk while speeding their client's time to market. As a result, INSEQ is securing orders to fabricate and ship NextGen process equipment for domestic and international customers.
This process equipment order for biodiesel technology follows the ethanol by-product recovery equipment orders INSEQ has received from Veridium Corporation.
Following this announcement, INSEQ Corporation has enjoyed a very exciting day of trading as investors dive into this company, as it looks stronger then ever. This company is a great trading opportunity as they continue to grow and experience decent sales and with success from Veridium Corporation, I feel we could see a big increase in sales. Currently trading at $0.0057, up over 25% this company has traded over 100 million shares as the ball begins to roll leading to an exciting week. The BWR Research Team will continue to follow the market sentiment on this company and numerous others.
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By M2 Last Update: 5/22/2006 1:12:23 PM Data provided by
May 22, 2006 (M2 PRESSWIRE via COMTEX) -- Today our stock watch alerts today include Featured Profiles for NextPhase Wireless (NXPW), Creative Vistas, Inc. (CVAS) and stock alerts for Produce Safety & Security International Inc (PDSC), INSEQ Corporation (INSQ), UDS Group, Inc. (UDSG), Bad Toys Holdings, Inc. (BTYH)
FEATURED STOCK PROFILE
OTC STOCK ALERTS
INSEQ CORPORATION (INSQ) "Up 25.53% in morning trading"
INSEQ Corporation (INSQ) is a publicly traded company whose mission is to facilitate the efficient utilization of primary and secondary commodities including metals, chemicals, fuels and plastics. More information on Inseq is available online at http://www.inseq.com.
INSEQ is 70% owned by GreenShift Corporation (GSHF), a business development corporation whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and contribute to the resolution of environmental challenges.
INSQ News:
May 22 - INSEQ Receives Order for Biodiesel Equipment from NextGen Fuel
INSEQ Corporation (INSQ) today announced that it is receiving orders from NextGen Fuel, Inc., for the manufacture of NextGen's proprietary biodiesel processing equipment.
The NextGen Fuel process is the leading modular, skid-based biodiesel process available in the rapidly growing global biofuel market. The NextGen process reduces plant capital costs by as much as 50% as compared to traditional approaches and offers significant operating benefits. The process can also be shop-tested with customer-specific feedstocks before it ever leaves the INSEQ plant floor and can be shipped to customers in as little 14 weeks. This allows NextGen and INSEQ to significantly reduce customer risk while speeding their client's time to market. As a result, INSEQ is securing orders to fabricate and ship NextGen process equipment for domestic and international customers.
This process equipment order for biodiesel technology follows the ethanol by-product recovery equipment orders INSEQ has received from Veridium Corporation (VRDM).
Veridium has granted exclusive right of first refusal manufacturing rights to INSEQ for the manufacturing of Veridium's patent-pending Corn Oil Extraction Systems(TM) and proprietary DAF Recycling Systems(TM). INSEQ expects to manufacture more than eight Corn Oil Extraction Systems(TM) and two DAF Recycling Systems(TM) for Veridium starting this year. More information on Veridium's technologies is available online at www.veridium.com.
-------------------- "Great Day for Up!"....Dr. Seuss
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posted
Holding and consolidating nicely at.006.Should do well tomorrow. The news today was very big imo becuase it really legitalizes INSQ as a company as they now have another big customer other than VRDM which is owned by GSHF just as INSQ is.
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION
FORWARD LOOKING STATEMENTS
In addition to historical information, this Quarterly Report contains forward-looking statements, which are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans to," "estimates," "projects," or similar expressions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in these forward- looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in the section entitled "Business Risk Factors." Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date hereof. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements.
BUSINESS RISK FACTORS
There are many important factors that have affected, and in the future could affect, INSEQ's business, including but not limited to the factors discussed below, which should be reviewed carefully together with other information contained in this report. Some of the factors are beyond our control and future trends are difficult to predict.
THERE IS SUBSTANTIAL DOUBT CONCERNING OUR ABILITY TO CONTINUE AS A GOING CONCERN.
INSEQ incurred a loss of $881,442 during the three months ended March 31, 2006, and INSEQ had approximately $47,302 in cash at March 31, 2006. These matters raise substantial doubt about INSEQ's ability to continue as a going concern. Management's plans include raising additional proceeds from debt and equity transactions and completing strategic acquisitions.
THE EXERCISE OF OUR OUTSTANDING WARRANTS AND OPTIONS AND INSEQ'S VARIOUS ANTI-DILUTION AND PRICE-PROTECTION AGREEMENTS COULD CAUSE THE MARKET PRICE OF OUR COMMON STOCK TO FALL, AND MAY HAVE DILUTIVE AND OTHER EFFECTS ON OUR EXISTING STOCKHOLDERS.
The exercise of our outstanding warrants and options could result in the issuance of up to 737,500,000 shares of common stock, assuming all outstanding warrants and options are currently exercisable. Such issuances would reduce the percentage of ownership of our existing common stockholders and could, among other things, depress the price of our common stock. This result could detrimentally affect our ability to raise additional equity capital. In addition, the sale of these additional shares of common stock may cause the market price of our stock to decrease.
WE MAY BE UNABLE TO SATISFY OUR CURRENT DEBTS.
Our total liabilities as of March 31, 2006 were $2,396,378. We cannot afford to pay these amounts out of our operating cash flows.
WE LACK CAPITAL TO FUND OUR OPERATIONS.
During the three months ended March 31, 2006 our operations used $343,868 in cash. In addition, during those three months we were required to make payments on some of our outstanding debts. Loans from some of our shareholders funded both the cash shortfall from operations and our debt service. Those individuals may not be able to continue to fund our operations or our debt service.
OUR OPERATIONS WILL SUFFER IF WE ARE UNABLE TO MANAGE OUR RAPID GROWTH.
We are currently experiencing a period of rapid growth through internal expansion and strategic acquisitions. This growth has placed, and could continue to place, a significant strain on our management, personnel and other resources. Our ability to grow will require us to effectively manage our collaborative arrangements and to continue to improve our operational, management, and financial systems and controls, and to successfully train, motivate and manage our employees. If we are unable to effectively manage our growth, we may not realize the expected benefits of such growth, and such failure could result in lost sales opportunities, lost business, difficulties operating our assets and could therefore significantly impair our financial condition. -8-
TEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION
BUSINESS RISK FACTORS (continued)
WE MAY HAVE DIFFICULTY INTEGRATING OUR RECENT ACQUISITIONS INTO OUR EXISTING OPERATIONS.
Acquisitions will involve the integration of companies that have previously operated independently from us, with focuses on different geographical areas. We may not be able to fully integrate the operations of these companies without encountering difficulties or experiencing the loss of key employees or customers of such companies. In addition, we may not realize the benefits expected from such integration.
OUR USE OF PERCENTAGE OF COMPLETION ACCOUNTING COULD RESULT IN A REDUCTION OR ELIMINATION OF PREVIOUSLY REPORTED PROFITS.
A substantial portion of our revenues are recognized using the percentage- of-completion method of accounting. This method of accounting results in us recognizing contract revenue and earnings over the term of a contract in the same periodic proportions as we incur costs relating to the contract. Earnings are recognized periodically, based upon our estimate of contract revenues and costs, except that a loss on a contract is recognized in full as soon as we determine that it will occur. Since the future reality may differ from our estimates, there is with each contract a risk that actual earnings may be less than our estimate. In that event, we are required to record an elimination of previously recognized earnings.
WE WILL BE UNABLE TO SERVICE OUR CUSTOMERS UNLESS WE CAN CONTINUE TO RETAIN TOP QUALITY SUBCONTRACTORS AND EQUIPMENT MANUFACTURERS AT FAVORABLE PRICES.
We rely on third party subcontractors and equipment manufacturers to complete our projects. The quality and timeliness of the services and equipment they provide determines, in part, the quality of our work product and our resulting reputation in the industry. In addition, if the amount we are required to pay for their services and equipment exceeds the amount we have calculated in bidding for a fixed-price contract, we will lose money on the contract. If we are unable to maintain relationships with subcontractors and manufacturers who will fill our requirements at a favorable price, our business will suffer.
OUR FAILURE TO ATTRACT QUALIFIED ENGINEERS AND MANAGEMENT PERSONNEL COULD HINDER OUR SUCCESS.
Our ability to attract and retain qualified engineers and other professional personnel when we need them will be a major factor in determining our future success. There is a very competitive market for individuals with advanced engineering training, and we are not assured of being able to retain the personnel we will need.
KEY PERSONNEL ARE CRITICAL TO OUR BUSINESS AND OUR FUTURE SUCCESS DEPENDS ON OUR ABILITY TO RETAIN THEM.
Our success depends on the contributions of our key management, environmental and engineering personnel. The loss of these officers could result in lost sales opportunities, lost business, difficulties operating our assets, difficulties raising additional funds and could therefore significantly impair our financial condition. Our future success depends on our ability to retain and expand our staff of qualified personnel, including environmental technicians, sales personnel and engineers. Without qualified personnel, we may incur delays in rendering our services or be unable to render certain services. We may not be successful in our efforts to attract and retain qualified personnel as their availability is limited due to the demand of hazardous waste management services and the highly competitive nature of the hazardous waste management industry. We do not maintain key person insurance on any of our employees, officers or directors.
SOME OF OUR EXISTING STOCKHOLDERS CAN EXERT CONTROL OVER US AND MAY NOT MAKE DECISIONS THAT FURTHER THE BEST INTERESTS OF ALL STOCKHOLDERS.
Our officers, directors and principal stockholders (greater that 5% stockholders) together control 100% of our outstanding Series D preferred stock. The preferred shares are convertible into 80% of our Common Stock. As a result, these stockholders, if they act individually or together, may exert a significant degree of influence over our management and affairs and over matters requiring stockholder approval, including the election of directors and approval of significant corporate transactions. In addition, this concentration of ownership may delay or prevent a change in control of us and might affect the market price of our common stock, even when a change in control may be in the best interest of all stockholders. Furthermore, the interests of this concentration of ownership may not always coincide with our interests or the interests of other stockholders and accordingly, they could cause us to enter into transactions or agreements which we would not otherwise consider.
-9-
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION
BUSINESS RISK FACTORS (continued)
INSEQ IS NOT LIKELY TO HOLD ANNUAL SHAREHOLDER MEETINGS IN THE NEXT FEW YEARS.
Delaware corporation law provides that members of the board of directors retain authority to act until they are removed or replaced at a meeting of the shareholders. A shareholder may petition the Delaware Court of Chancery to direct that a shareholders meeting be held. But absent such a legal action, the board has no obligation to call a shareholders meeting. Unless a shareholders meeting is held, the existing directors elect directors to fill any vacancy that occurs on the board of directors. The shareholders, therefore, have no control over the constitution of the board of directors, unless a shareholders meeting is held. Management does not expect to hold annual meetings of shareholders in the next few years, due to the expense involved. Kevin Kreisler and James L. Grainer, who are currently the sole directors of INSEQ were appointed to that position by the previous directors. If other directors are added to the Board in the future, it is likely that Mr. Kreisler and Mr. Grainer will appoint them. As a result, the shareholders of INSEQ will have no effective means of exercising control over the operations of INSEQ.
INVESTING IN OUR STOCK IS HIGHLY SPECULATIVE AND YOU COULD LOSE SOME OR ALL OF YOUR INVESTMENT.
The value of our common stock may decline and may be affected by numerous market conditions, which could result in the loss of some or the entire amount invested in our stock. The securities markets frequently experience extreme price and volume fluctuations that affect market prices for securities of companies generally and very small capitalization companies such as us in particular.
THE VOLATILITY OF THE MARKET FOR INSEQ COMMON STOCK MAY PREVENT A SHAREHOLDER FROM OBTAINING A FAIR PRICE FOR HIS SHARES.
The common stock of INSEQ is quoted on the OTC Bulletin Board. It is impossible to say that the market price on any given day reflects the fair value of INSEQ, since the price sometimes moves up or down by 50% or more in a week's time. A shareholder in INSEQ who wants to sell his shares, therefore, runs the risk that at the time he wants to sell, the market price may be much less than the price he would consider to be fair.
OUR COMMON STOCK QUALIFIES AS A "PENNY STOCK" UNDER SEC RULES WHICH MAY MAKE IT MORE DIFFICULT FOR OUR STOCKHOLDERS TO RESELL THEIR SHARES OF OUR COMMON STOCK.
Our common stock trades on the OTC Bulletin Board. As a result, the holders of our common stock may find it more difficult to obtain accurate quotations concerning the market value of the stock. Stockholders also may experience greater difficulties in attempting to sell the stock than if it were listed on a stock exchange or quoted on the NASDAQ National Market or the NASDAQ Small-Cap Market. Because our common stock does not trade on a stock exchange or on the NASDAQ National Market or the NASDAQ Small-Cap Market, and the market price of the common stock is less than $5.00 per share, the common stock qualifies as a "penny stock." SEC Rule 15g-9 under the Securities Exchange Act of 1934 imposes additional sales practice requirements on broker-dealers that recommend the purchase or sale of penny stocks to persons other than those who qualify as an "established customer" or an "accredited investor." This includes the requirement that a broker- dealer must make a determination on the appropriateness of investments in penny stocks for the customer and must make special disclosures to the customer concerning the risks of penny stocks. Application of the penny stock rules to our common stock affects the market liquidity of the shares, which in turn may affect the ability of holders of our common stock to resell the stock.
ONLY A SMALL PORTION OF THE INVESTMENT COMMUNITY WILL PURCHASE "PENNY STOCKS" SUCH AS OUR COMMON STOCK.
INSEQ common stock is defined by the SEC as a "penny stock" because it trades at a price less than $5.00 per share. INSEQ common stock also meets most common definitions of a "penny stock," since it trades for less than $1.00 per share. Many brokerage firms will discourage their customers from purchasing penny stocks, and even more brokerage firms will not recommend a penny stock to their customers. Most institutional investors will not invest in penny stocks. In addition, many individual investors will not consider a purchase of a penny stock due, among other things, to the negative reputation that attends the penny stock market. As a result of this widespread disdain for penny stocks, there will be a limited market for INSEQ common stock as long as it remains a "penny stock." This situation may limit the liquidity of your shares.
-10-
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION
THREE MONTHS ENDED MARCH 31, 2006
Revenues
Total revenues were $1,003,743 for the quarter ended March 31, 2006, and $1,330 for the three months ended March 31, 2005.
The majority of revenues realized during three months ended March 31, 2006 were due to the operating activities of our recently acquired subsidiary, Warnecke Design Services, Inc. ("WDS"). WDS has traditionally engaged in the engineering and fabrication of manufacturing equipment for large domestic and international manufacturers, and revenues for the quarter ended March 31, 2006 related primarily to orders from that customer base.
WDS is currently executing a growth plan targeted at designing and fabricating processing equipment for the biofuels industry. This plan includes engineering and fabrication services for Veridium Industrial Design Corporation, who is also owned by INSEQ's parent company, GreenShift Corporation, as well as for other nonaffiliated companies in the alternative fuels industry. Although the Company expects increases in revenue from these areas of expansion, there can be no assurance that the growth plan can be successfully implemented.
Cost of Revenues
Cost of revenues for the quarter ended March 31, 2006 was $870,750, all of which were related to WDS. Cost of revenues included direct labor costs of $370,048, purchased components and other direct costs of $388,592, and indirect labor and manufacturing overhead of $112,111. Cost of revenues for the quarter ended March 31, 2005 was $230. Cost of revenues was higher as a percentage of sales for the quarter ended March 31, 2006 than it is anticipated to be in the future, due primarily to the completion in the first quarter of 2006 of a major design and fabrication job that contained significant cost overruns.
Selling, General and Administrative Expenses
Selling, general and administrative expenses for the quarter ended March 31, 2006 were $692,086. Selling, general and administrative expenses for the three months ended March 31, 2005 were $399,820. Selling, general and administrative expenses are expected to remain high as a percentage of sales until such time that the Company can achieve enough revenue growth and obtain the economies of scale necessary to support these expenses.
Interest Expense and Financing Costs
Interest expense and financing cost for the quarter ended March 31, 2006 was $231,159. Interest expense and financing cost for the three months ended March 31, 2005 was $165,175. The interest expense was primarily attributable to our financing agreements with Cornell and Highgate.
We incurred $83,653 in amortization of financing costs during the nine months ended March 31, 2006. These expenses represent the costs incurred in connection with the Highgate and Cornell Debentures and the fees we paid to compensate the parties associated with these financing transactions.
The Interest expenses and financing costs noted above are expected to decrease in future quarters due to the fact the Cornell Debentures were converted into common stock and the Highgate Debentures were assumed by GreenShift. Interest expense and financing costs could increase in future periods if the Company obtains new debt or equity financing.
Net Income and Net Loss
Our net loss for the three months ended March 31, 2006, was $881,442, and our net loss for the three months ended March 31, 2005 was $578,903. The net loss incurred was due to the expenses and other factors described above.
Liquidity and Capital Resources
The Company had $2,396,378 in liabilities at the end of the quarter ended March 31, 2006.
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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION
THREE MONTHS ENDED MARCH 31, 2006
Liquidity and Capital Resources (continued)
On February 7, 2006, GreenShift Corporation, INSEQ's majority shareholder, assumed certain convertible debentures INSEQ had previously issued to Highgate House Funds, Ltd., in the amount of $1,150,369, which included accrued interest of $89,734. In return for GreenShift's assumption of this debt, INSEQ issued GreenShift 1,150,369 shares of INSEQ's Series C Preferred Stock. Shares of INSEQ's Series C Preferred Stock carry a face value of $1.00, pay a coupon of 8%, and are convertible into INSEQ common stock at $0.01 per share.
Additionally, on February 2, 2006, Cornell Capital Partners, LP, converted $404,139 of debt into common stock. The amount converted equaled the entirety of the principal and accrued interest on the Convertible Debenture issued by INSEQ to Cornell.
The completion of the above described transactions resulted in the conversion of all of INSEQ's outstanding convertible debt with Cornell and Highgate, and the reduction of INSEQ's debt by a total of $1,554,508.
The Company had $555,606 in accounts payable and accrued expenses at March 31, 2006. The Company may not be able to satisfy these amounts predominantly out of cash flows from its operations, and may need to obtain additional financing to satisfy these obligations.
As of March 31, 2006, the Company owed $131,334 to various officers, and $251,789 to GreenShift Corporation, a major shareholder, for amounts borrowed during the period.
At the present time the Company does not have commitments from anyone to provide funds for the operations of INSEQ. Management continues to seek funding and any additional funding that is obtained is likely to involve the issuance of large amounts of stock, and will further dilute the interests of the existing shareholders.
Cash
Our primary sources of liquidity are cash provided by investing and financing activities. For the three months ended March 31, 2006, net cash used in operating activities was $343,868.
Liquidity
We used cash provided from investing and financing activities to fund operations. We intend to use cash provided from operating activities to fund operations during the fiscal year 2006.
The Company's capital requirements consist of general working capital needs, scheduled principal and interest payments on debt, obligations and capital leases and planned capital expenditures. The Company's capital resources consist primarily of cash generated from the issuance of debt and common stock. The Company's capital resources can be expected to be impacted by changes in accounts receivable as a result of revenue fluctuations, economic trends, and collection activities. At March 31, 2006 the Company had $47,302 in cash.
Cash Flows for the Quarter Ended March 31, 2006
For the quarter ended March 31, 2006, we obtained net cash from financing of $243,666 and used net cash from investing activities of $9,364.
The Company had a negative working capital position of $357,821 at March 31, 2006. In reviewing our financial statements as of December 31, 2005, our auditor concluded that there was substantial doubt as to our ability to continue as a going concern.
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition or results of operations.
posted
I am going to hold onto my shares, I believe more positive news will come out soon. The 10QSB just the stuff from before March 31. a lot has changed since then. http://stockcharts.com/h-sc/ui?s=insq chart was headed down until recent events(up after March 31). A lot more uptrend in the future IMHO.
posted
Stockstar, inseq's filings have been depressing me for over a year now. To put some of this in context, read GSHF filing (as it pertains to insq) - it helps with the whole story.
The huge news is yet to come from the company, so watch for anything related to GreenShift restructuring for a production environment, rather than investment environment.
Always wondered why inseq points out absolutely every negative possibility imaginable in those filings. geesh. Nobody else does.
posted
A Doom and Gloom 10Q will always scare people but I am staying put because this company has too much potential. I would hate to miss this stock's rise.
posted
no bs, keith, he's the major shareholder in all of these. While there are a lot of peeps involved, this has been his/family's wallet working to make all the pieces fit.
His plans were supposed to be ready months ago, but they missed out on some key acquisitions over the winter. I'll stay put until Kreisler says 'uncle'.
INSEQ Corporation (OTC Bulletin Board: INSQ) today announced its execution of agreements with GreenShift Corporation (OTC Bulletin Board: GSHF), INSEQ's majority shareholder, to acquire GreenShift's stakes in Sterling Planet, Inc., TerraPass, Inc., as well as GreenShift's various pre-revenue clean energy project development companies.
Pursuant to the acquisition agreement, INSEQ agreed to acquire GreenShift's stakes in Sterling Planet and TerraPass and 100% of the issued and outstanding stock of GreenShift's newly formed pre-revenue clean energy project development companies, GS Solar, Inc., GS Wind, Inc., GS Hydro, Inc., and GS Wave, Inc., in return for 450,000 shares of INSEQ's Series C Preferred Stock. These shares are in addition to GreenShift's existing 80% stake in INSEQ. Shares of INSEQ's Series C Preferred Stock have a face value of $1.00 per share and are convertible into INSEQ common stock at the rate of $0.01 per common share.
INSEQ will change its name to GS Energy Corporation in conjunction with the closing of this acquisition, which is scheduled for on or before June 30, 2006.
"The acquisition of these clean energy companies marks a shift in INSEQ's business model to clean energy production and sales," said Kevin Kreisler, INSEQ's chairman and chief executive officer. "Sterling Planet is the nation's leading retail provider of renewable energy certificates, or Green Tags. They are also forging new and very exciting ground with their sales of energy efficiency certificates, or White Tags(TM). We intend to invest aggressively in the sales growth of both Green Tags and White Tags."
Kreisler added: "We also plan to directly develop clean energy production projects, with an emphasis on distributed solar, wind, hydro and wave power projects, and we intend to rely on our existing manufacturing division to provide infrastructure support services for these projects in addition to this division's current clean technology manufacturing business. We are very excited by this transaction."
About Sterling Planet, Inc.
Sterling Planet is the nation's leading retail provider of solar, wind and other clean, renewable energy through direct sales and electric utility partnerships. Sales to date have created environmental benefits comparable to not driving 7 billion miles or taking 550,000 cars off U.S. roads. Founded in 2000, Sterling Planet was the first company to offer Renewable Energy Certificates to every U.S. home and business and is now introducing Energy Efficiency Certificates, or White Tags(TM) to the U.S. market. Individuals, businesses and organizations of all types turn to Sterling Planet. Today, Sterling Planet has 28 utility partners nationwide in Connecticut, Florida, Massachusetts, New Jersey, New York, Rhode Island and elsewhere.
Sterling services an impressive array of clients including Alcoa, The Coca-Cola Company, DuPont, Delphi Corporation, Duke University, University of Utah, Nike, Pitney Bowes, U.S. Environmental Protection Agency, the U.S. General Services Administration, the Homeland Security Department, Western Area Power Administration, New York State Energy Research and Development Authority (NYSERDA), the U. S. Army, the U.S. Air Force, Staples, Whirlpool Corporation, the World Resources Institute and over 150 other environmentally friendly companies.
Sterling recently announced the launch of a new leading-edge White Tags(TM) energy trading program that encourages and rewards efficient use of electricity. Sterling Planet is pioneering the U.S. market for energy efficiency credits, otherwise known as White Tags(TM), or EECs, which represent 1 MWh (megawatt hour) of electricity savings.
White Tags(TM) are the latest energy trading certificates to hit the market and trade much like renewable energy credits ("RECs"), or Green Tags. But unlike RECs, which are tied to creating and delivering renewable power and are measured by meter readings (1 REC also represents 1 MWh), White Tags are determined through precise calculations of energy savings derived from conservation measures. To this end, Sterling Planet has developed state-of-the-art technology with advanced mathematical techniques and neural network algorithms to establish accurate (greater than 99.9%), scalable and cost-effective processes for the measurement, verification and certification of White Tags(TM).
TerraPass has a service that helps to eliminate personal vehicle contributions to global warming by issuing a "TerraPass" to its members. TerraPass then uses its members' contributions to promote global energy efficiency and greenhouse gas reduction through investment in targeted clean energy projects. It is through these clean energy projects that TerraPass counterbalances pollution from its members' vehicles.
TerraPass recently entered into a partnership with Ford Motor Company and to market TerraPass-branded carbon offsets to all drivers of Ford, Lincoln, and Mercury cars and trucks. Under the joint marketing program, called Greener Miles, Ford dealers will be given brochures on TerraPass and directed to the website from several Ford product sites. More information on TerraPass is available at www.terrapass.com.
INSEQ is 80% owned by GreenShift Corporation (OTC Bulletin Board: GSHF), whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.
Safe Harbor Statement
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of INSEQ Corporation, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
SOURCE: INSEQ Corporation INSEQ Corporation Phone: 888-833-8689 - Extension 291 Fax: 646-792-2636 Email: investorrelations*inseq.com Web: www.inseq.com or CEOcast, Inc. for GreenShift Corporation Andrew Hellman, 212-732-4300 Copyright Business Wire 2006
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It went down over 87% on the aquisition news. When the name change went through yesterday my 10,000 nearly worthless shares that were worth only $80.00 at .008 became 36 shares that are worth $80.00 at 2.20 per share. So the share price will have to go up to $14.00 for me to break even.
The INSQ PR didn't mention any share consolidation though (that I could figure out anyhow.)
Jo
-------------------- "Great Day for Up!"....Dr. Seuss
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