Cautionary Statement Regarding Forward-Looking Information
Risk Factors
Greystone has attained operating profits and positive cash flows from operating activities but there is no assurance that it will be able to sustain profitability.
Greystone has granted security interests in substantially all of its assets in connection with certain debt financings and other transactions.
Greystone’s business could be affected by changes in availability of raw materials.
Greystone’s business could be affected by competition and rapid technological change.
Greystone is dependent on a few large customers.
Greystone’s business could be affected by the Coronavirus, COVID-19.
Greystone may not be able to effectively protect Greystone’s patents and proprietary rights.
Greystone’s business could be affected by changing or new legislation regarding environmental matters.
Greystone’s business could be subject to potential product liability claims.
Greystone currently depends on certain key personnel.
Greystone’s executive officers and directors control a large percentage of Greystone’s outstanding common stock and all of Greystone’s 2003 preferred stock, which entitles them to certain voting rights, including the right to elect a majority of Greystone’s Board of Directors.
Greystone’s stock trades in a limited public market and is subject to price volatility. There can be no assurance that an active trading market will develop or be sustained.
Greystone does not expect to declare or pay any dividends on its common stock in the foreseeable future.
Greystone’s common stock may be subject to secondary trading restrictions related to penny stocks.
Greystone may issue additional equity securities, which would lead to further dilution of Greystone’s issued and outstanding stock.
Results of Operations
General
The consolidated financial statements include Greystone and its two wholly owned subsidiaries,
Greystone’s primary business is the manufacturing of plastic pallets utilizing recycled plastic and selling the pallets through one of its wholly owned subsidiaries, GSM.
Year Ended
Sales
Cost of Sales
Selling, General and Administrative Expenses
Other Income (Expenses)
Interest expense was
Provision for Income Taxes
Net Income
Net income was
Net Income Attributable to Common Stockholders
Liquidity and Capital Resources
General
A summary of Greystone’s cash flows for the year ended
Cash provided by operating activities
Contractual obligations of Greystone as of
Transactions with
Rental fees. GSM pays weekly rental fees of
Yorktown provides administrative office space for Greystone in
Loans from
Financing Leases
Transactions with
Loan. Effective
Off-Balance Sheet Arrangements
Greystone does not have any off-balance sheet arrangements.
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