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GreenHouse Holdings, Inc. (OTCQB:GRHU)
GreenHouse Holdings, Inc. , recently announced that the Company is completing the necessary steps to Up-List its shares to a senior U.S. stock exchange. In order to facilitate the transition, GRHU established an independent board and appointed PKF, a nationally recognized accounting firm, as their SEC auditors.
"Graduating to a senior U.S. exchange is a high priority for the company given the progress we have made in securing multiple contracts with the U.S. Military and Fortune 100 industrial customers," said John Galt, GRHU Founder & Executive Chairman. "We believe transitioning to a larger exchange is the next logical step in the Company's future growth and will allow us to gain exposure and be recognized by a broader segment of the investment community. We have witnessed that a number of companies which Up-List to national exchanges experienced impressive increases in liquidity. GreenHouse is confident that now is the appropriate time to move to a senior exchange, as our operations have increased both domestically and abroad. The Up-Listing will allow us to attract additional investors as we strive to improve shareholder value."
The Board of Directors has now announced that they have made the following appointments in advance of the planned Up-Listing:
Sy Siegel as the Chair of the Audit Committee;
Charles Allured as the Chair of the Compensation Committee; and
General Floyd Trogden as the Chair of the Nominating Committee.
GRHU recently announced the signing of multiple contract awards for its Life Protection (LPI) Governmental Services Division, totaling $6 million. The recently acquired LPI subsidiary provides innovative training, support, design and construction of facilities and services to meet the needs of the U. S. Government, military, and law enforcement agencies.
The governmental contracting entities include the U.S. Marine Corps School of Dynamic Entry in Quantico, VA and the U.S. Army Schofield Barracks Range Support in Honolulu, HI. The combined value of these contracts totals $1.5 million and includes GRHU's brand of Rapidly Assembled Portable Structures, (RAPS). In addition, to the governmental contracts, GRHU has signed contracts totaling $4.5 million for commercial projects, including a design-build contract for services ranging from project management and land planning to eco-friendly building products and services. GRHU expects the majority of the contracted work to be completed by year end 2010.
"These contract awards with new and existing clients is a reflection of the trust our customers have in GreenHouse's commitment to delivering top-quality products and services," said Russ Earnshaw, President of GRHU. "We are extremely proud of LPI's ability to immediately secure highly desirable contracts within an industry with high barriers to entry. Management remains dedicated to strengthening our associations with the Directors of government agencies and expanding our geographic footprint as we continue to increase revenue, grow earnings and improve overall shareholder value."
Billy Jones, founder of LPI, and Vice President of Government Services for GRHU, commented, "Our Rapidly Assembled Portable Structures are vital for numerous governmental sectors that require the ability to provide immediate, safe, and effective shelter in a variety of terrains and climates. We are confident that our advanced portfolio of product offerings and long-held industry associations provide a competitive advantage within both the governmental and commercial market. We look forward to servicing our clients and gaining new customers as we continue to establish ourselves as a leader in the environmental energy solutions sector."
In other company news, GRHU recently announced that PepsiCo will partner with GreenHouse to utilize Southern California Edison’s Automated Demand Response program at its Buena Park bottling plant. GRHU is a qualified service provider of SCE’s Auto-DR program, providing site assessment, feasibility studies, project development, engineering, installation of enabling technologies and complete processing of all incentives.
The Auto-DR program offers significant financial incentives and technical support to SCE customers with automated load control systems that participate in demand response events. Auto-DR uses control systems to automatically achieve specified energy demand reductions (kW and duration) during periods of peak energy demand.
“Auto-DR is a perfect complement to Greenhouse’s vision to help our clients reduce energy consumption by deploying state-of-the-art technology,” says Rob Davis, Vice President of GRHU. “We are truly honored to be selected to partner with Pepsi and we are looking forward to the Auto-DR projects as the first of many opportunities to be included in Pepsi’s corporate sustainability initiatives. This project goes to the heart of Greenhouse’s mission to deliver green solutions that reduce energy consumption with a positive return on investment.”
PepsiCo is a recognized leader in the beverage industry for their efforts in sustainability and energy efficiency by consistently operating their plants in the most energy-conscious manner possible.
“It’s clear to Pepsi that both Southern California Edison and GreenHouse are working in the best interests of Pepsi and other ratepayers with their Auto-DR program,” said Pablo Cussatti, Vice President of Manufacturing at Pepsi Beverages Company West. “We are pleased to be doing our part for the environment and promote the responsible management of critical resources like the electric grid.”
In utilizing the Auto-DR system, Pepsi can shed or reduce electric consumption during costly peak energy periods when the demand is highest. In addition, the system provides Pepsi the ability to reduce operating costs by curtailing the use and purchase of electricity. Pepsi will then receive financial incentives from SCE for doing so.
GRHU, through its subsidiary, R Squared Contracting, Inc., provides energy efficiency products and technologies to the residential, commercial, and industrial building markets. GRHU also offers ethanol fuel and ethanol production technologies to residential, corporate, and government customers. In addition, GRHU distributes E-Fuel MicroFueler, as well as ethanol production systems to produce ethanol using sugar, algae or waste from distilleries and breweries. Further, GRHU operates an aquaponic, vegetable, and fish farm for residential customers, and the food and restaurant industry. GRHU supplies its products through outsourced manufacturers and assembly from third-party subcontractors. GRHU was founded in 2007 and is headquartered in San Diego, California.
To learn more about GRHU visit: http://www.greenhouseintl.com
CoreSite Realty Corporation (NYSE:COR), a national provider of powerful, network-rich data centers, reported results for the three and nine months ended September 30, 2010.
- Completed initial public offering (“IPO”) with proceeds of $289.2 million net of underwriting discounts and commissions.
- Signed new and expansion data center leases totaling 26,949 Net Rentable Square Feet.
- Realized 23.6% average increase in rental rates on a GAAP basis for leases renewed during the quarter and achieved a retention ratio in excess of 80%.
- Delivered 14,079 NRSF of redeveloped data center space and 11,039 NRSF of ancillary office space
BioDelivery Sciences International (Nasdaq:BDSI) reported that it has scheduled a conference call for Monday, November 15, 2010 at 11:00 a.m. Eastern Time to address analyst and shareholder questions regarding BDSI’s recently filed Form 10-Q for the period ending September 30, 2010.
In addition, management will be providing progress updates on BDSI’s BEMA Buprenorphine Phase 3 clinical program for the treatment of chronic pain, ONSOLIS manufacturing, and the ONSOLIS “REMS” program.
eMagin Corporation (Amex:EMAN), the leader in OLED technology for the design and manufacture of OLED microdisplays for high resolution imaging products, reported its financial results for its third quarter ending September 30, 2010.
EMAN generated revenue of $8.3 million for the third quarter of 2010, which represented a 35% increase over the prior year’s third quarter. Year to date, total revenues are up 32% over 2009 levels, due to significantly higher product sales and an 84% increase in contract revenues.
EMAN posted a strong gross margin of 66%, compared to a gross margin of 57% in the Q309. The higher gross margin for the period reflects sales of higher margin custom displays designed for customers’ exclusive use and the Company’s significant operating leverage, as we produced and shipped a record number of microdisplays during the quarter.
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