written by reader Green Innovations, GNIN,

By Anonymous Questions, March 7, 2013

Not sure who I would ask about this so I am trying you because you seem to understand a lot. These guys, Green Innovations, GNIN, have been making these announcements and I posted a question on yahoo about it but many on there seem to be these negative guys who don’t actually trade, here is the link and question, if you want to make a thread of this please feel free. My real question is does all the stuff reported here need to be true? If not, how much can they say and not be in deep trouble?:

http://finance.yahoo.com/news/green-innovations-adds-former-kimberly-121500938.html?desktop_view_default=true

and this:

http://finance.yahoo.com/news/green-innovations-announces-product-approval-111500618.html?desktop_view_default=true

Hey, does anyone know if this stuff is actually true? I saw on another comment a scam warning, however, I don’t know how much of this stuff these guys can legally say without being in the big black red black out back barn house. Please anyone comment as I am very interested to understand this. Thank you in advance.

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Travis Johnson, Stock Gumshoe
March 7, 2013 10:23 am

I’m not a lawyer, but most of the time there’s at least some truth in press releases like these — they can be true and very misleading at the same time.

I don’t know GNIN, but from my quick glance it has all the hallmarks of a pump-and-dump stock — unclear share structure, a recent complete change of business (they were a “facebook for wine lovers” before they acquired this “green hygiene” distributor), no sign of any revenues in their SEC filings, no assets to speak of (book value is negative). And if they still have 100 million shares outstanding as they did in their last SEC filing, that means they have a market cap of $175 milllion or so. If true, I think that’s patently ridiculous and wouldn’t be interested in spending any more time looking at the company.

They may or may not ever end up having a legitimate and thriving business, they do claim to have some orders that are delivering right around now, and other potential orders in the future as their products are accepted for possible sale (having a product get into a purchasing system of a major retailer doesn’t necessarily mean that retailer is going to buy it — or buy much of it), but there are thousands of little start-up product manufacturers and distributors who are trying to get a foothold in retail. I don’t see how anyone could look at this business, at least in the quick glance I’ve given them, and see potential profitability that warrants a valuation anywhere near $25 million, let alone $200 million. But that’s just me, and just a quick look. You can see their latest 10-Q here: http://www.sec.gov/Archives/edgar/data/1491471/000147793212004016/green_10q.htm

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Sabba
Irregular
Sabba
March 8, 2013 9:04 am

…and the promoters received $35,000/week for pumping the stock. Yet, we wonder if a little flyer is worth it.

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rkatz0
Member
March 8, 2013 2:33 pm

Yes, I saw the numbers looked awry, of course. But my main question is whether they can make misleading statements like this and how m uch can they get away with? I understand it becomes a real legal question and most likely is so fuzzy that not even an attorney that is well versed in this type of law would be able to answer precisely. At any rate it will be interesting to watch GNIN if they end up doing anything worthwhile…or if they just end up fizzling out like a lot of these types of things!

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Christine Amy
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Christine Amy
April 11, 2013 11:31 am

Vippennystocksite dotcom (Dot means .), is the site through which I was able to master the working of GNIN stock, by this I mean trends

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