GLGI 最新10-K变化

相对上期新增的文字 · 来源:10-K · 2026-08-31

• 48” X 40” one-piece, lightweight, full picture-frame pallet.

• In April 2023, Greystone opened a facility in Jasper, IN, through the purchase of equipment, including robotics, which uses an extrusion process to produce plastic pallets. The equipment was operated under contract with Jasper Rubber. During the year ended May 31, 2026, Jasper Rubber’s parent compan…

• Greystone operates two grinding lines and four pelletizing lines that process recycled HDPE into regrind pellets (“BBs”) used as feedstock in its pallet manufacturing operations. Greystone currently grinds and pelletizes recycled plastic to customers for a fee. Greystone has two high tonnage machine…

• The principal raw materials used in manufacturing Greystone’s plastic pallets are in abundant supply, and some of these materials may be obtained from recycled plastic containers. At the present time, these materials are being purchased from local and national suppliers. If available, materials may …

• Industry research published in 20261 indicates that global demand for pallets across all materials was on the order of $90 billion, with continued growth expected in the mid-single digits annually, driven by e-commerce expansion, warehouse automation, and global trade volumes. Within that broader ma…

相对上期删除的文字 · 来源:10-K · 2025-08-29

• In April 2023, Greystone opened a facility in Jasper, IN, through the purchase of equipment, including robotics, that uses an extrusion process to produce plastic pallets. Recycled plastic will be used in the process consistent with Greystone’s green standards. The pallets created from this extrusio…

• The principal raw materials used in manufacturing Greystone's plastic pallets are in abundant supply, and some of these materials may be obtained from recycled plastic containers. At the present time, these materials are being purchased from local and national suppliers. If available, materials may …

• The largest industry users of pallets such as the food, chemical, pharmaceutical, beverage and dairy industries are populated with large public or private entities for which profitable financial performance is paramount. The trend for pallets is expected to expand because of overall pallet demand re…

• Wood: Although not highlighted in her report, Biller estimates that about 60% of wooden pallets are used and about 40% are new. Those percentages could shift in favor of new pallets going forward because the industry has been reporting a shortage of quality used pallets, known as cores, for the last…

• Nearly five years ago, Costco announced that it was going entirely to a block pallet. Biller believes Costco’s decision is a symptom of the overall trend towards block pallets rather than a driver. “Costco is part of a broader trend towards pallets that are easier to use, especially in an automated …

相对上期新增的文字 · 来源:10-K · 2026-08-31

• Historically, Greystone was dependent on a few large customers.

• Greystone previously derived over 50% of its revenue from two major customers. During fiscal year 2026, the Company lost one of the major customers. The termination of this relationship has negatively impacted the Company’s financial condition and operating results. The Company continues to assess i…

• We may not be able to effectively protect Greystone’s patents and proprietary rights.

• Greystone relies upon a combination of patents and trade secrets to protect its proprietary technology, rights and knowledge. There can be no assurance that such patent rights will not be infringed upon, that Greystone’s trade secrets will not otherwise become known to or independently developed by …

• There is substantial doubt about our ability to continue as a going concern. If we do not continue as a going concern, investors will lose their entire investment.

相对上期删除的文字 · 来源:10-K · 2025-08-29

• Greystone derives a large portion of its revenue from a few large customers and expects that this trend will continue in the foreseeable future. Three customers currently account for approximately 76% of its total sales in fiscal year 2025 (81% in fiscal year 2024). There is no assurance that Greyst…

• We may not be able to effectively protect Greystone's patents and proprietary rights.

• Greystone relies upon a combination of patents and trade secrets to protect its proprietary technology, rights and know-how. There can be no assurance that such patent rights will not be infringed upon, that Greystone's trade secrets will not otherwise become known to or independently developed by c…

相对上期新增的文字 · 来源:10-K · 2026-08-31

• The Company evaluates, at each reporting period, whether conditions or events raise substantial doubt about its ability to continue as a going concern within one year after the date the financial statements are issued. This evaluation requires significant management judgment and involves the conside…

• Management's assessment incorporates assumptions regarding future revenues, gross margins, operating expenses, capital expenditures, availability of financing, and the timing and success of planned corrective actions. Because these assumptions are inherently uncertain and involve estimates about fut…

• Where substantial doubt is identified, management must also evaluate whether its plans are probable of being effectively implemented and probable of mitigating the conditions giving rise to the substantial doubt. The Company's conclusions regarding going concern represent one of the most significant…

• The Company enters into transactions with certain related parties, including officers, directors, principal shareholders, and entities affiliated with such individuals. Management evaluates these arrangements to determine the appropriate accounting treatment and disclosure requirements under applica…

• Significant judgment is required in identifying related parties, assessing the substance of transactions, determining whether transactions are conducted on terms comparable to those available from unrelated third parties, evaluating classification within the consolidated financial statements, and de…

相对上期删除的文字 · 来源:10-K · 2025-08-29

• Sales were $57,869,480 for fiscal year 2025 compared to $61,780,715 for fiscal year 2024 representing a decrease of $3,911,235, or about 6%. The reduction in sales, compared to the prior period is primarily attributable to an approximate 24% decrease in demand from one of its significant customers, …

• Greystone’s major customers, varying from three to four, accounted for approximately 76% and 81% of total sales in fiscal years 2025 and 2024, respectively. Customers that account for significant sales may vary in any one year. Generally, customers purchasing substantial quantities to replace or add…

• Cost of sales was $48,391,187 (84% of sales) and $50,065,085 (81% of sales) in fiscal years 2025 and 2024, respectively. The increase in the ratio of cost of sales to sales (the “ratio”) in fiscal year 2025 from fiscal year 2024 was the result of several factors, including a decline in production of…

• Selling, general and administrative (SGA) expenses were $5,906,804, (10% of sales) for fiscal year 2025 compared to $5,168,607, (8.4% of sales) for fiscal year 2024, representing an increase of $738,197. The increase is primarily due to bonuses paid during the year ended May 31, 2025.

• Gain on involuntary conversion was $741,821 for fiscal year 2025. In February 2024, one of the Company’s storage warehouses caught fire with damage to finished goods inventory valued at $1,326,752 and the building with a net book value of $161,850. As of May 31, 2024, the Company recorded an insuran…