Greenshift Corp. (GERS) shares rise amid favorable patent news

Posted on: Tuesday, June 28th, 2011
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Greenshift Corp. (OTCBB: GERS) saw its shares climb 100% to two-100ths of a cent, on word of another patent. Volume for the stock totaled 32 million shares.

The Alpharetta, Georgia-based waste management company announced Tuesday that the U.S. Patent and Trademark Office (“USPTO”) has issued a notice of allowance for patent application number 12/559,136, titled “Method of Recovering Oil From Thin Stillage” (the “’136 Patent Application”).

According to Tuesday’s news release, the new notice of allowance is the second allowance issued by the USPTO on this particular application. To further strengthen its legal position, GreenShift previously requested the USPTO to withdraw the earlier allowance and review all of the materials submitted by all of the defendants in GreenShift’s current patent infringement litigation, including ICM, Flottwegg, and Westfalia in support of their invalidity arguments. The USPTO issued the new notice of allowance for the ‘136 Patent Application in spite of everything raised by each and every defendant, including ICM.

GreenShift believes that the allowance of the new patent by the USPTO is further substantial confirmation of the validity of GreenShift’s patents, and significantly increases the strength of GreenShift’s legal position in asserting its claims of infringement of its corn oil extraction patents.

The release quoted David Winsness, GreenShift’s Chief Technology Officer, as saying “We are aware of no practical method to recover corn oil from stillage that is not covered by our patents, including processes involving ‘staged’ recovery of oil from emulsion layers, recovery of oil following cold fermentation, and use of chemical additives.

“We welcome and expect innovation; however, we also expect any and all use of our technologies to be lawful.”

GreenShift Corporation develops and commercializes clean technologies that facilitate the more efficient use of natural resources.

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Category: OTCBB, Penny Stocks
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