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6:09 pm
November 12, 2009
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mickymoose99
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Global Resource Corp. Announces New Chairman of the Board and New Chief Executive Officer
Brian Ettinger Named Chairman and Ken Kinsella Named Chief Executive Officer
MOUNT LAUREL, NJ, Nov 12, 2009 (MARKETWIRE via COMTEX) — Global Resource Corp. (PINKSHEETS: GBRC), a developer of a patent-pending microwave technology and machinery for extracting oil and gas, announced today that Mr. Ken Kinsella will become the Chief Executive Officer effective immediately. In addition, Mr. Brian Ettinger has been appointed as the new Chairman of the Board of Directors.
Mr. Kinsella has extensive senior executive experience in the operations and management of several top organizations including both private and publicly listed NASDAQ companies. His wealth of experience is global and he has conducted business in countries outside the U.S. such as the UK, Japan, Korea, India, Australia, Greater China and throughout Continental Europe.
Most recently he was a Founding Partner in Tribe Equity, a provider of capital and corporate growth strategies to rapidly growing small and medium businesses. Prior to Tribe Equity he was the CEO of Invicta Investments Limited, an organization that specialized in the construction of transactions including international property, energy, renewables and corporate equity deals in the U.S. and Europe. Throughout his career he has been responsible for global business rollouts and strategic expansion including mergers and acquisitions, joint venture execution and strategic alliance partnerships.
“I'm excited to join Global Resource and offer my experience and knowledge of bringing new technologies to commercialization,” said Mr. Kinsella. “The Board of Directors believes that the technology represents a paradigm shift in the energy industry and my goal is to quickly and effectively commercialize our proprietary solution for various applications. The continued focus of our team will be on the monetization of this ground-breaking technology and Global Resource has taken major strides toward the beginning stages of commercialization. I look forward to working with the team at Global and providing important shareholder updates as we reach key milestones.”
Mr. Ettinger, a consultant to Global Resource since 2008, currently serves as the CEO and General Counsel for Worldwide Strategic Partners, Inc., an energy consulting firm involved in domestic and international energy projects involving oil and gas production, exploration, alternative fuels, waste to energy, biofuels, power, and pipelines. He has also served as an independent consultant to Nuclear Solutions, Inc., a firm that developed technology that takes waste coal and converts to diesel fuel. While at Nuclear Solutions he assisted the company in obtaining grants and entered into a contract to develop this technology under Shaw Energy Group.
In addition, Mr. Ettinger is the founder of The Law Office of Brian Ettinger. The law firm concentrates on a general practice emphasizing Civil Litigation, Business Litigation, International Business Contracts and Negotiations including Energy Related Industries, International Lobbying Services and represents domestic and international clients in the energy, oil and gas development, exploration, drilling and pipeline products and/or natural gas development, power distribution, power purchase agreements, and coal producing pollution reduction.
“I look forward to being the Chairman of the Board as we move toward commercializing our technology in 2010,” commented Mr. Ettinger. “The Board is pleased with the recent licensing agreement and sale of a 1-ton prototype unit to Universal Alternative Fuels for the use in oil shale and we believe Mr. Kinsella has the experience and relationships to deliver additional contracts. Global Resource is at a crucial inflection point of fully commercializing our technology and we felt strongly about bringing in a CEO with Mr. Kinsella's credentials. It is an essential step to driving value for our shareholders.”
About Global Resource Corporation
Global Resource Corp., (PINKSHEETS: GBRC), is a developer of a patent-pending microwave technology and machinery that extracts oil and petroleum products from shale deposits, tar sands, capped oil wells, bituminous coal and processed materials such as tires and plastics as well as dredged soil from harbors and river bottoms. Its process produces significantly greater yields and lower costs than are available using existing technologies. Because the process takes place in an enclosed environment it is emission-free and an efficient and cost-effective tool for cleaning environmental wastes and toxic materials. For more information see: http://www.globalresourcecorp.com
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8:18 am
November 13, 2009
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mickymoose99
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Global Resource Corp., (GBRC), is a developer of a patent-pending microwave technology and machinery that extracts oil and petroleum products from shale deposits, tar sands, bituminous coal and processed materials such as tires and plastics as well as dredged soil from harbors and river bottoms. Its process produces significantly greater yields and lower costs than are available using existing technologies. The process takes place in a vacuum environment that is emission-free, efficient and cost-effective tool for cleaning environmental wastes and toxic materials.
Share Statistics:
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Outstanding:
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53.3mm
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Float
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17.4mm
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Important Company Highlights
Investment Highlights
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Proven patent-pending technology to recover energy economically from a variety of untapped sources.
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Successfully completed Phase 2 testing of the Patriot 1, preparing for large scale demonstration to potential customers.
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Restructured management team to accelerate time to commercialization
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Recognized by the United States Department of Energy as a Company that may one day make available hundreds of years of oil from shale and tar sands, based upon the current burn rate of the United States.
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Entered a joint cooperation relationship with Ingersoll Production Systems (IPS). IPS agreed to manufacture energy production systems at its assembly plants.
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$5 million in cash on the balance sheet, sufficient to continue operations for a 12 month period.
Highlight, Applications & Benefits
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Extracting energy from oil shale and tar sands: GRBC process is superior to current technology for extracting oil and gas from oil shale and tar sands because it extracts more oil, uses less energy and no water and is environmentally friendly.
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Extracting hydrocarbons from coal: Low-cost method for extracting gas, oil while producing a value add coke from bituminous coal.
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Recovering oil drilling fluids: GBRC machine recovers drilling fluids (diesel or synthetic fuel) from mud used in well drilling. Recycles costly drilling fluids and cleans drilling mud, saving disposal costs.
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Cleaning up toxic and solid wastes: Decontaminates sludge found in harbors and river bottoms, such as PCBs, herbicides and pesticides. Produces energy and saves cost of waste removal.
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Recycling tires and automotive residue: GBRC machine extracts oil, gas and carbon from tires, plastics of stripped cars, disposing of these toxic materials while producing marketable supplies of energy and other byproducts. Payback from ten-ton recycling machine takes 12-18 months.
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Corn bi-products: GBRC microwave technology has the ability to produce an estimated 3,000 Btu's of energy per cubic foot of corn. Approximately 6,000 cubic feet per ton of corn.
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10:06 am
November 13, 2009
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mickymoose99
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GBRC
+8.43%
RSI Line turn around and is heading upwards @46.39
looking good
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9:57 am
November 20, 2009
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mickymoose99
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GBRC
+ 6.02 on the up tick
RSI LINE is @ 47.03 and approaching bullish
very nice curve upwards
i believe that GBRC is going to have a BIG DAY
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9:58 am
November 20, 2009
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mickymoose99
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Global Resource Corporation Secures $10 Million Financing Commitment
MOUNT LAUREL, NJ, Nov 20, 2009 (MARKETWIRE via COMTEX) — Global Resource Corp. (PINKSHEETS: GBRC), a developer of patent-pending microwave technology and machinery for extracting oil and gas, announced today that it has entered into a $10 million common stock purchase agreement with AGS Capital Group, a New York based institutional investor.
Up to $10 million of Global Resource common stock may be sold from time to time over a 36-month period after the Securities and Exchange Commission has declared effective a registration statement related to the transaction. Global Resource will use the proceeds for working capital and will provide the company with the necessary capital for expansion requirements of commercializing the ground breaking microwave technology.
“Our management team is very excited to secure this funding from, a well-respected institutional investor with a strong record of investment,” stated, Mr. Ken Kinsella, Chief Executive Officer of Global Resource Corp. “The new funding provides us with the working capital needed to commercialize our microwave technology and begin to further roll out our strategic vision of converting waste to energy utilizing various feedstocks. Our funding agreement provides us with financial stability as we continue to expand our global footprint and seek to secure new contracts with waste management and recycling firms.”
About Global Resource Corporation
Global Resource Corp. (PINKSHEETS: GBRC) is a developer of a patent-pending microwave technology and machinery that extracts oil and petroleum products from shale deposits, tar sands, capped oil wells, bituminous coal and processed materials such as tires and plastics as well as dredged soil from harbors and river bottoms. Its process produces significantly greater yields and lower costs than are available using existing technologies. Because the process takes place in an enclosed environment it is emission-free and an efficient and cost-effective tool for cleaning environmental wastes and toxic materials. For more information see: http://www.globalresourcecorp.com
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2:28 pm
November 20, 2009
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mickymoose99
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—— GBRC
Having a great day +5.68% tick is up
almost at twice the ten day
RSI LINE @ 53.18 and rising
HIST GRAM starting to build
went as high @ 0.99
alot of promise here
keep an eye on it |
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8:28 am
November 24, 2009
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mickymoose99
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Global Resource Corporation Provides Shareholder Update
MOUNT LAUREL, NJ, Nov 24, 2009 (MARKETWIRE via COMTEX) — Global Resource Corp. (PINKSHEETS: GBRC), a development-stage company focused on energy-efficient microwave-based technologies for recycling tires, upgrading petroleum products and converting other materials to higher value hydrocarbon-based fuels or carbon materials, today provided a shareholder update and filed financial results for the third quarter ended September 30, 2009.
Key Shareholder Updates and Company Achievements:
-- In early 2009, the Company announced a licensing agreement with a
large oil services company for up to $600,000 for phase 1 to develop
applications for heavy oil.
-- In October 2009, Global Resource announced a licensing agreement with
Universal Alternative Fuels, Inc. ("UAF") worth $750,000 for coal and oil
shale. UAF purchased a prototype machine from Global Resource, for $3.5
million. The machine is a one-ton processing machine to be used with oil
shale.
-- The Company reported the Patriot PPS-TR prototype produced a high-
grade carbon black that has been independently verified by Akron Rubber
Development Laboratory, Inc. The tests indicate that the prototype system
can consistently produce a high-quality carbon black product. The quality
range of the carbon black produced is potentially suitable for multiple
applications, including tire treads for tires. The current global market
for consistent, high-grade carbon black ranges between $500 and up to
$2,500 per ton, depending on the precise quality of the byproduct and
market conditions.
-- Global Resource received a commitment of up to $10 million of equity
financing from an institutional investor. The company will use the
proceeds for working capital and will provide the company with the
necessary capital for expansion requirements of commercializing the
groundbreaking microwave technology.
-- Global Resource recently announced the appointment of a new CEO, Ken
Kinsella, and a new Chairman of the Board, Brian Ettinger. Mr. Kinsella
brings over 15 years of experience in operations and management of public
and private companies. He has been instrumental in the growth of a number
of companies worldwide, with experience in the US, the UK, Japan, Korea,
India, Australia and Asia.
Mr. Ettinger is the CEO of Worldwide Strategic Partners, Inc., an energy
consulting firm involved in domestic and international energy projects
involving oil and gas production, exploration, alternative fuels, waste to
energy, biofuels, power, and pipelines.
Mr. Ken Kinsella, CEO of Global resource commented, “Global Resource continues to move closer towards commercialization, as evidenced by our recent licensing deals and the first sale of a prototype machine. Our licensing agreements and recent financing commitment provide us with sufficient funds to capitalize on various business opportunities during 2010 in the waste to energy sector. The recent results regarding high-grade carbon black will allow purchasers of our technology to generate higher margin revenue, allowing for a faster rate of return on their investment. This discovery makes our technology even more appealing to waste management, recycling, oil and gas and energy firms around the world.”
Financial Results for the Third Quarter Ended September 30, 2009:
The Company reported $90,000 in revenue for the third quarter ended September 30, 2009, compared to no revenue for the same period of 2008. Revenue recorded for the quarter was related to the Joint Development Agreement Global Resource signed on May 22, 2009 with a large oil services firm.
For the quarter ending September 30, 2009 the Company reported a net loss of $(3.8) million, or $(0.06) per share. An increase in operating expenses during the period ended September 30, 2009 was primarily attributable to share based compensation paid to consultants and relating to management turnover. The restructuring efforts are now complete as the Company moves towards full commercialization of the Patriot PPS TR.
As of September 30, 2009, the basic share count for the Company increased to 63.6 million from 53.3 million.
Shareholder Conference Call
Management will host a conference call with the investment community on Tuesday, December 1, 2009 at 8:30 a.m. Eastern Daylight Time. Interested parties may participate in the conference call by dialing 1-877-941-4775 or 1-480-629-9761 for international callers. Please call 5 to 10 minutes prior to 4:30 p.m. When prompted, ask for the “Global Resource Shareholder Update and Third Quarter Financial Results Call.” A telephonic replay may be accessed approximately two hours after the call through December 8, 2009, by dialing 1-800-406-7325 or 1-303-590-3030 for international callers and entering the replay access code 4187445. The teleconference will be webcast simultaneously on the Global Resource website at http://www.globalresourcecorp.com.
About Global Resource Corporation
Global Resource Corp., (GBRC), is a developer of a patent microwave technology and machinery to extract oil and petroleum products from shale deposits, tar sands, capped oil wells, bituminous coal and processed materials such as tires and plastics as well as dredged soil from harbors and river bottoms. Its process produces significantly greater yields and lower costs than are available using existing technologies. Because the process takes place in an enclosed environment it is emission-free and an efficient and cost-effective tool for cleaning environmental wastes and toxic materials. For more information see: http://www.globalresourcecorp.com
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8:59 am
November 30, 2009
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Chuck.W
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Global Resource Corporation Conference Call Information and Reminder
- Press Release
- Source: Global Resource Corp.
- On 8:30 am EST, Monday November 30, 2009
MOUNT LAUREL, NJ–(Marketwire – 11/30/09) – Global Resource Corp. (Pinksheets:GBRC – News), a developer of a patent-pending microwave technology and machinery for extracting oil and gas, will host a conference call on December 1st to provide a shareholder update.
Global Resource Corporation will host a shareholder update and third quarter conference call to discuss the Company's key milestones to date. The conference call will take place on December 1, 2009 at 8:30 am (EST). If calling within the United States please dial 1-877-941-4775 or if calling internationally, please dial 1-480-629-9761 approximately 5 to 10 minutes prior to 8:30 am (EST) start time. Participants should ask for the “Global Resource Shareholder Update and Third Quarter Financial Results Call.” There will be a playback available until December 16, 2009. To listen to the playback, please call 1-800-406-7325 if calling within the United States or 1-303-590-3030 if calling internationally. Please use the pass code 4187445 for replay.
A live audio webcast of the conference call will also be available at: http://www.globalresourcecorp.com.
About Global Resource Corp.
Global Resource Corp. (Pinksheets:GBRC – News) is a developer of a patent-pending microwave technology and machinery that extracts oil and petroleum products from shale deposits, tar sands, capped oil wells, bituminous coal and processed materials such as tires and plastics as well as dredged soil from harbors and river bottoms. Its process produces significantly greater yields and lower costs than are available using existing technologies. Because the process takes place in an enclosed environment it is emission-free and an efficient and cost-effective tool for cleaning environmental wastes and toxic materials. For more information, see: http://www.globalresourcecorp.com.
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1:30 pm
November 30, 2009
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mickymoose99
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GBRC
Looking good + 10%
RSI LINE @ 49.94 rising
MAC D broke away from the signal.
Slope rising
All charts are showing poss after the news came out today
Need the spread to tighten
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3:21 pm
November 30, 2009
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mickymoose99
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——————————————-
Global Resource Corp. closed at $0.80 Friday, trading 38,873 shares.
Global Resource Corporation Conference Call Information and Reminder
MOUNT LAUREL, NJ – November 30, 2009 – Global Resource Corp. (PINKSHEETS: GBRC), a developer of a patent-pending microwave technology and machinery for extracting oil and gas, will host a conference call on December 1st to provide a shareholder update.
About Global Resource Corp.
Global Resource Corp. (PINKSHEETS: GBRC) is a developer of a patent-pending microwave technology and machinery that extracts oil and petroleum products from shale deposits, tar sands, capped oil wells, bituminous coal and processed materials such as tires and plastics as well as dredged soil from harbors and river bottoms. Its process produces significantly greater yields and lower costs than are available using existing technologies. Because the process takes place in an enclosed environment it is emission-free and an efficient and cost-effective tool for cleaning environmental wastes and toxic materials. For more information, see: http://www.globalresourcecorp.com
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8:20 am
December 1, 2009
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mickymoose99
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Global Resource Corporation to Be Granted Patent for Microwave-Process Technology
MT. LAUREL, NJ, Dec 01, 2009 (MARKETWIRE via COMTEX) — Global Resource Corporation (PINKSHEETS: GBRC), a development-stage company focused on energy-efficient microwave-based technologies for recycling tires, upgrading petroleum products and converting other materials to higher value hydrocarbon-based fuels or carbon materials, today announced that the U.S. Patent and Trademark Office will issue U.S. Patent No. 7,629,427 to Global Resource. This issue is for the technology that is the core of the Company's first product, the Patriot 2(TM) Tire-to-Fuel Oil Recycling System, in addition to other potential future applications. The patent will be issued on December 8, 2009.
“We are pleased to be recognized by the U.S. Patent and Trademark Office for our pioneering work in this area,” says Mr. Ken Kinsella, CEO of Global Resource. “In granting us this patent, the patent office recognizes that our microwave technology is new and non-obvious in view of all known previous technologies. This patent reinforces Global Resource's position as the technology leader in the waste to high-end commodity and energy sector. We are thrilled to be granted this U.S. patent as it will provide us with an absolute advantage in commercializing our technology.”
The patented technology uses high-frequency microwaves in the electromagnetic spectrum between 4 gigahertz and 18 gigahertz to convert tires and other carbon based materials, such as plastics, heavy oil, tanker sludge, shale oil, drill cuttings and other waste products to carbon black, other high value carbon products, fuel oil, and natural gas. A complete description of the patented technology is available through the website of the U.S. Patent and Trademark Office.
Mr. Kinsella concluded, “As the new CEO I am pleased with the hard work and dedication the Global Resource team performed in securing this patent. We are pleased by the breadth of protection provided by this patent and with our ongoing technology development activities directed towards converting multiple feedstocks into high value carbon products. The issuance of the patent is a major step in enhancing value for our loyal shareholders. We have filed for additional patents and intend to file continually for additional patents as we advance our technology and move the company forward.”
About Global Resource Corporation
Global Resource Corp. (PINKSHEETS: GBRC) is a developer of a patent microwave technology and machinery to extract oil and petroleum products from shale deposits, tar sands, capped oil wells, bituminous coal and processed materials such as tires and plastics as well as dredged soil from harbors and river bottoms. Its process produces significantly greater yields and lower costs than are available using existing technologies. Because the process takes place in an enclosed environment it is substantially emission-free and an efficient and cost-effective tool for cleaning environmental wastes and toxic materials. For more information see: http://www.globalresourcecorp.com.
Forward-Looking Statements
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12:57 pm
December 1, 2009
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mickymoose99
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GBRC
+ 2.50%
RSI LINE @ 43.09 rising up tick
As of now bids are building
Moving on the offer @ 0.82
High today @ 0.87
Could an opportunity or to
reload i believe we will see
appreciation
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8:55 am
December 2, 2009
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mickymoose99
Member
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GBRC
yesterday range 0.81 x 0.87
On the up tick + 1.25%
Closed in the green yesterday
had some Strong volume
RSI LINE @ 41.62 upwards trend
I believe GBRC will continue to stay in the green
Technology
Global Resource Corporations patent-pending* technology utilizes a wide range of microwave frequencies at below atmospheric pressure to extract hydrocarbons and other high value carbon products from various materials in a substantially emission free process. By utilizing the optimum frequency for each specific material and by uniquely applying the energy to the product, Global Resource has developed a highly efficient process to treat traditional low value or waste materials, with outputs of energy intensive fluids and high value carbon products. The energy created can power the entire process and put additional energy back on the grid. Because the process is at below atmospheric pressure, it is substantially free of emissions, making our process environmentally friendly
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3:10 pm
December 2, 2009
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mickymoose99
Member
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GBRC
Bids are building ,
Days Range 0.73 x 0.85
I believe we will see GBRC
In the green
Just need to tighten the spread
Opened up nicely,
Gapping @0.75 x 0.80
I can see GBRC possibly hitting 0.90
By the end of the week
Looking @ the 8 K im seeing a
Possible reformation of the company
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8:08 pm
March 15, 2010
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mickymoose99
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Form 8-K for GLOBAL RESOURCE CORP
15-Mar-2010
Entry into a Material Definitive Agreement, Material Modification to Rights
Item 1.01. Entry into a Material Definitive Agreement.
The Board of Directors (the “Board”) of Global Resource Corporation (the “Company”) declared a dividend, payable to stockholders of record on March 11, 2010 (the “Record Date”), of one right (a “Right”) per each share of outstanding Common Stock of the Company, par value $0.001 per share (”Common Stock”), to purchase 1/1,000th of a share of Series I Preferred Stock, par value $0.001 per share, of the Company (the “Preferred Stock”), at a price of $100.00 per share (such amount, as may be adjusted from time to time as provided in the Rights Agreement, the “Purchase Price”). In connection therewith, the Company entered into a Rights Agreement, dated March 11, 2010 (as the same may be amended from time to time, the “Rights Agreement”) with Olde Monmouth Stock Transfer Co., Inc., as Rights Agent (the “Rights Agent”).
The following summary of the Rights Agreement is a general description only and is qualified in its entirety by the full text of the Rights Agreement which is attached as Exhibit 4.1 hereto and incorporated by reference herein.
Effectiveness. The Rights Agreement became effective on March 11, 2010 (the “Effective Date”). Upon and following the Effective Date, Rights will be issued in respect of all outstanding shares of Common Stock on the Record Date, and for all shares of Common Stock issued after the Record Date and, subject to the next sentence, prior to the earliest of the Distribution Date (as defined below), the redemption of the Rights or the Expiration Date (as defined below). Rights may be distributed with respect to shares of Common Stock issued after the Distribution Date only in certain limited circumstances as described in the Rights Agreement (such as the issuance of Common Stock pursuant to stock options, employee compensation or benefit plans and convertible securities).
Term. The Rights will expire on the third anniversary of the date the Rights Agreement is entered into (the “Expiration Date”), unless earlier redeemed or canceled by the Company as provided below.
Exercisability. Initially, the Rights will not be exercisable. The Rights will become exercisable upon the earlier of the following dates (such date, the “Distribution Date”):
� such date the Company learns that a person or group (including any affiliates or associate of such person or group) has acquired, or obtained the right to acquire, beneficial ownership (as defined in the Rights Agreement) of more than 20% of the outstanding Common Stock of the Company (or, in the case of any person with beneficial ownership of more than 20% at the time the Rights Agreement is entered into, any additional Common Stock is acquired by such person (except upon exercise of certain stock options or vesting of restricted shares)) (any person or group specified in the foregoing bullet point, an “Acquiring Person”); and
� such date, if any, as may be designated by the Board following the commencement of, or first public disclosure of an intention to commence, a tender or exchange offer for outstanding Common Stock which could result in a person or group becoming the beneficial owner of more than 20% of the outstanding Common Stock of the Company.
Rights Certificates and Detachability. Prior to the Distribution Date, the Rights will be represented by the certificates for shares of Common Stock, and the Rights will be transferable only with the related Common Stock certificates and will be automatically transferred with any transfer of the related Common Stock. After the Distribution Date, the Rights will “detach” from the Common Stock and will be separately transferable.
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8:19 am
March 16, 2010
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mickymoose99
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Global Resource Corporation Prepares for Future by Investing in Human CapitalThe Company Announces Restructuring of Board Members and Selects Key Candidate for Chief Financial Officer
Related Quotes
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0.00 |
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{”s” : “gbrc.pk”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”}
Press Release Source: Global Resource Corp. On Tuesday March 16, 2010, 8:00 am
MOUNT LAUREL, NJ–(Marketwire – 03/16/10) – — Global Resource Corp. (Pinksheets:GBRC – News), a developer of patented energy-efficient microwave-based technologies for recycling tires, upgrading petroleum products and converting other materials to higher value hydrocarbon-based fuels or carbon materials, today announced the restructuring of the Board of Directors. By adding industry expertise to the board and management team, the company will be taking active steps to capitalize on its leadership role in the clean technology sector.
Mr. Edward V. Szofer and Mr. Paul Sommerville will join the Board of Directors effective immediately. Mr. Ken Kinsella, Chief Executive Officer of GBRC will also join the Board during the next 30 days pending a Board resolution. In addition to bolstering the Board of Directors with financial, technology, oil and gas expertise, the Company has identified Mr. Jeff Wittman as its prime candidate to become the company's next Chief Financial Officer.
“We are pleased with the caliber of our new board members who come to us from top leadership positions in the fields of technology and clean energy production,” stated Mr. Brian Ettinger, Chairman of the Board of Directors for GBRC. “We believe that these changes represent a strong investment in human capital for the future growth of the company. We look forward to leveraging their knowledge and expertise in order to commercialize our technologies, improve our earnings and increase shareholder value. They will all be of significant value as GBRC executes on its continued strategy for commercialization.”
Mr. Edward V. Szofer, has held various board positions of multi-national companies, both public and private. Using his vast experience he has guided these companies from start-ups to corporations with valuations of over $4.0 billion in market cap. Mr. Szofer has extensive experience in organizational growth, P&L responsibility and has managed companies with over 4,500 employees. His background also entails significant knowledge relating to mergers and acquisitions, as well as joint ventures and strategic alliance agreements. With nearly 30 years of industry knowledge and in-depth expertise in public markets, Mr. Szofer will provide guidance and insight to GNRC's management team in order to assist in the commercialization of its green technology.
Mr. Paul Sommervile has over 37 years of professional experience within construction and public company arenas. Prior to joining GBRC's Board of Directors, he served as Chief Executive Officer for Associated Pipe Line Contractors, Inc., an international builder and installer of commercial pipelines for the oil and gas industry. Throughout his career, he has gained extensive knowledge of highly sophisticated commercial grade construction projects in this sector.
As part of the Board of Directors restructuring process, Lincoln Jones III and Fred Clark have resigned due to personal reasons, effective immediately. Moving forward, the Company will continue to search for high quality industry experts to serve as quality members of the Board of Directors.
Mr. Ettinger continued, “We would like to thank all of the board members for their diligent efforts and support during their tenure serving the company. Their involvement marked an exciting time with significant milestones reached, most notably receiving a patent for the Patriot 1™ Tire-to-Fuel Oil Recycling System and the signing of major joint ventures, including Phoenix Renewable Energy, and the Global Heavy Oil JDA. On behalf of the entire management team and everyone at GBRC, I would like to wish them the best of luck with their future endeavors.”
Mr. Jeff Wittman is a successful finance executive with over 20 years of experience and a strong background in financial management, mergers and acquisitions, start-ups, SEC reporting, financial planning and analysis, cost cutting initiatives, profit enhancements, and business operations. Mr. Wittman has built strong, sustainable companies in the U.S. and internationally. Based on his prior experience with public companies, he will focus on adding strict corporate governance and strong financial responsibility to GBRC.
“We are extremely pleased to welcome Mr. Wittman to our executive management team,” said Mr. Ken Kinsella, CEO of GBRC. “He is a key component in the company's investment in human capital and strengthens our executive team based on his deep analytical, financial, and operational experience. He will be instrumental in assisting GBRC in executing on its commercialization strategy, securing additional joint ventures, and improving shareholder value.”
About Global Resource Corporation
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