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GLGI on OTC

GREYSTONE LOGISTICS, INC.

GREYSTONE LOGISTICS, INC. is a special industry machinery company, listed on OTC (GLGI).1 It is headquartered in Tulsa, Oklahoma.1

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Last updated Oct 21, 2026.

Overview

$27.5MRevenue, fiscal 20262
-$8.2MNet income, fiscal 20262

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  • TickerGLGI on OTC1
  • IndustrySpecial Industry Machinery, NEC1
  • HeadquartersTulsa, Oklahoma1
  • Business address1613 East 15Th Street, Tulsa, Ok 741203
  • Filer categoryNon-accelerated filer, Smaller reporting company3

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Greystone Logistics, Inc. (“Greystone” or the “Company”) was incorporated in Delaware on February 24, 1969, under the name Permaspray Manufacturing Corporation. It subsequently changed its name to Browning Enterprises Inc. in April 1982, to Cabec Energy Corp. in June 1993, to PalWeb Corporation in April 1999 and to Greystone Logistics, Inc. in March 2005, as further described below. In December 1997, Greystone acquired all of the issued and outstanding stock of Plastic Pallet Production, Inc., a Texas corporation (“PPP”), and since that time, Greystone has primarily been engaged in the business of manufacturing and selling plastic pallets.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

-6.2%Gross margin2
-28.2%Operating margin2
-29.9%Net margin2
-52.4%Revenue growth, 20262
-71.5%Return on equity2
0.00×Debt to equity2
-$3.5MFree cash flow2

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue82¢$29.3M
  • Selling, general and admin17¢$6.1M
  • Income tax1¢$439.5K

Out of $27.5M in revenue.2 The company lost money this year.

Financial statements

Revenue678910112$27.5M in 2026−61% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $71.1M$71.1M20192020: $76.2M$76.2M2020+7%2021: $64.9M$64.9M2021−15%2022: $74.2M$74.2M2022+14%2023: $60.8M$60.8M2023−18%2024: $61.8M$61.8M2024+2%2025: $57.9M$57.9M2025−6%2026: $27.5M$27.5M2026−52%
Gross profit678910112-$1.7M in 2026
-$5.0M0$5.0M$10.0M$15.0M2019: $8.2M$8.2M20192020: $11.5M$11.5M2020+39%2021: $11.5M$11.5M2021−0%2022: $7.8M$7.8M2022−32%2023: $9.3M$9.3M2023+20%2024: $11.7M$11.7M2024+26%2025: $10.0M$10.0M2025−14%2026: -$1.7M-$1.7M2026
Operating income678910112-$7.8M in 2026
-$10.0M-$5.0M0$5.0M$10.0M2019: $4.3M$4.3M20192020: $6.9M$6.9M2020+59%2021: $6.3M$6.3M2021−9%2022: $2.6M$2.6M2022−59%2023: $4.2M$4.2M2023+64%2024: $7.1M$7.1M2024+69%2025: $4.3M$4.3M2025−40%2026: -$7.8M-$7.8M2026
Net income6789112-$8.2M in 2026
-$10.0M-$5.0M0$5.0M$10.0M2019: $2.1M$2.1M20192020: $5.0M$5.0M2020+141%2021: $3.6M$3.6M2021−27%2022: $4.5M$4.5M2022+25%2023: $6.4M$6.4M2023+41%2024: $5.0M$5.0M2024−21%2025: $2.4M$2.4M2025−53%2026: -$8.2M-$8.2M2026

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2026-05-312025-05-31
Sales$27.5M$57.9M
Cost of Sales$29.3M$47.8M
Gross Profit-$1.7M$10.0M
Selling, General and Administrative Expenses$6.1M$6.5M
Gain on Involuntary Conversions (Note 5)$0-$741.8K
Operating Income (Loss)-$7.8M$4.3M
Other Income$5.0K$162.2K
Interest Expense-$911.8K-$1.0M
Income (Loss) before Income Taxes-$8.7M$3.5M
Benefit (Provision) for Income Taxes$439.5K-$1.1M
Net Income (Loss)-$8.2M$2.4M
Preferred Dividends$0-$428.7K
Net Income (Loss) Attributable to Common Stockholders-$8.2M$1.9M
Basic (in dollars per share)-$0.30$0.07
Basic (in shares)27.3M shares28.1M shares
Diluted (in shares)27.3M shares28.6M shares

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Corporate structure

GREYSTONE LOGISTICS, INC. sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of GREYSTONE LOGISTICS, INC.

  • GREYSTONE LOGISTICS, INC. Tulsa, Oklahoma
    • Greystone Manufacturing, L.L.C. Subsidiary · Oklahoma, United States
    • Plastic Pallet Production, Inc. Subsidiary · Texas, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What GREYSTONE LOGISTICS, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$80.5M2 May 31, 2026$78.8M2 May 31, 2025+2.2%
Accumulated depreciation$54.6M2 May 31, 2026$48.7M2 May 31, 2025+12.2%
Property and equipment, net$25.8M2 May 31, 2026$30.0M2 May 31, 2025−14.0%
Operating-lease assets (leased space)$4.8M2 May 31, 2026$5.1M2 May 31, 2025−6.4%

Inventory

ItemLatestA year beforeChange
Inventory, total$2.7M2 May 31, 2026$3.5M2 May 31, 2025−22.9%
Raw materials$2.0M2 May 31, 2026$2.1M2 May 31, 2025−6.4%
Finished goods$687.7K2 May 31, 2026$1.3M2 May 31, 2025−48.9%

Properties, in its own words

Greystone’s operations are performed at:

● · Three primary buildings for a total of 126,000 square feet of manufacturing and warehouse space located on approximately 6.35 acres of land in Bettendorf, Iowa. These buildings are leased from Greystone Real Estate, L.L.C. (“GRE”) which is owned by Robert B. Rosene, Jr., a director of Greystone. The manufacturing and warehouse space is sufficiently equipped and designed to accommodate the manufacturing of plastic pallets and is also used for grinding, processing and pelletizing recycled plastic, and storage of various equipment. See discussion of transactions with Mr. Rosene under the liquidity and capital resources section.

The rest of Item 2

● · Two buildings owned by Greystone located within a 30-mile radius of its primary facility for an additional 75,000 square feet of warehouse space. These buildings are currently used for warehousing inventory and grinding operations.

● · Facility in Palmyra, MO, housing two of Greystone’s injection molding machines. Production in this facility is outsourced to the lessor.

● · Greystone previously leased a facility in Jasper, IN to house its extrusion processing machines. That equipment has since been relocated to storage at a Greystone-owned facility, and Greystone no longer occupies or pays rent for the Jasper, IN location.

● · Office location in Tulsa, OK, which is approximately 3,000 sq ft, and is leased from a related party.

We believe that these facilities are adequate for our current and near-term needs.

Item 2 of the 10-K filed Aug 31, 2026.5

Leadership

Who has led GREYSTONE LOGISTICS, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Warren F. Kruger2007–now

President

  1. Warren F. Kruger2007–2023

Chief financial officer

  1. William W. Rahhal2012–2016
  2. Warren F. Kruger2025–now
2010201520202025
Board members and other officers (4)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Greystone Manufacturing, L.L.C. Oklahoma4
  • Plastic Pallet Production, Inc. Texas4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • PALWEB CORPOct 26, 1999 to Apr 14, 20053

Timeline

  1. Oct 10, 20248-K Executive or director change22
  2. Jun 28, 20248-K Regulation FD disclosure23
  3. Apr 17, 20248-K Results of operations; Regulation FD disclosure24
  4. Apr 4, 20248-K Executive or director change25
  5. Jan 19, 20248-K Results of operations; Regulation FD disclosure26
  6. Jan 2, 20248-K Executive or director change27
  7. Oct 17, 20238-K Results of operations; Regulation FD disclosure28
  8. Aug 22, 20228-K Other events29
  9. Aug 4, 20228-K Entered a material agreement30
  10. May 3, 20228-K Results of operations; Regulation FD disclosure31
  11. Jan 24, 20228-K Results of operations; Regulation FD disclosure32
  12. Feb 23, 2007New chief executive Warren F. Kruger becomes CEO15

Calendar

When it reported results

  1. Apr 17, 2024Reported quarterly or annual results24
  2. Jan 19, 2024Reported quarterly or annual results26
  3. Oct 17, 2023Reported quarterly or annual results28
  4. May 3, 2022Reported quarterly or annual results31
  5. Jan 24, 2022Reported quarterly or annual results32

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

44 filings to the SEC since October 2021: 6 annual reports, 16 quarterly reports, 11 major events, 7 insider forms, 2 large holders, 2 other. The latest 20:

  1. Oct 15, 202610-Q EDGAR
  2. Aug 31, 202610-K EDGAR
  3. Apr 14, 202610-Q EDGAR
  4. Jan 14, 202610-Q EDGAR
  5. Dec 22, 20254 EDGAR
  6. Nov 20, 20254 EDGAR
  7. Nov 14, 20254 EDGAR
  8. Oct 15, 202510-Q EDGAR
  9. Aug 29, 202510-K EDGAR
  10. Apr 11, 202510-Q EDGAR
  11. Jan 14, 202510-Q EDGAR
  12. Oct 18, 202410-Q EDGAR
  13. Oct 16, 2024NT 10-Q EDGAR
  14. Oct 10, 20248-K EDGAR
  15. Sep 13, 202410-K EDGAR
  16. Aug 30, 2024NT 10-K EDGAR
  17. Jun 28, 20248-K EDGAR
  18. Apr 17, 20248-K EDGAR
  19. Apr 15, 202410-Q EDGAR
  20. Apr 4, 20248-K EDGAR

The 44 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

12 open-market trades by officers, directors and large owners since October 2021: 12 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 22, 2025KRUGER WARREN FCEO & CFOBuy17,500$0.58$10.2KForm 4
Nov 11, 2025KRUGER WARREN FCEO & CFOBuy5,000$0.71$3.5KForm 4
Oct 15, 2025Lockard Drew T.DirectorBuy20,000$1.13$22.6KForm 4
Oct 14, 2025Lockard Drew T.DirectorBuy1,600$1.10$1.8KForm 4
Aug 22, 2025Lockard Drew T.DirectorBuy5,000$1.27$6.3KForm 4
May 23, 2025Lockard Drew T.DirectorBuy6,600$1.30$8.6KForm 4
May 22, 2025Lockard Drew T.DirectorBuy20,000$1.30$26.1KForm 4
May 21, 2025Lockard Drew T.DirectorBuy8,000$1.20$9.6KForm 4
May 20, 2025Lockard Drew T.DirectorBuy3,400$1.20$4.1KForm 4
Oct 30, 2023Lockard Drew T.DirectorBuy12,000$1.03$12.4KForm 4
Feb 1, 2023KRUGER WARREN FCEO & CFOBuy5,000$0.46$2.3KForm 4
Oct 14, 2021KRUGER WARREN FCEO & CFOBuy450$1.12$504Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How GREYSTONE LOGISTICS, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARGREYSTONE LOGISTICS, INC.1
  • CIK0001088413
  • Employer ID (EIN)75-29546805
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inOklahoma5
  • Fiscal year endsMay 311
  • Industry code (SIC)3559 Special Industry Machinery, NEC1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address1613 East 15Th Street, Tulsa, OK 741201
  • Phone918-583-74411
  • Shares outstanding27,270,271 as of Oct 15, 202614
  • Public float$8.6M as of Feb 28, 20265
  • AuditorHoganTaylor LLP, Tulsa, Oklahoma PCAOB ID 483; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceJun 10, 19991
  • Filings470 in all: 4 (152), 8-K (82), 10-Q (57), 10QSB (25), NT 10-Q (23), 10-K (18), NT 10-K (13), UPLOAD (12)1
    All 34 form types

    3 (9), CORRESP (9), 10KSB (8), 10SB12G/A (8), 4/A (7), 10-Q/A (6), 10KSB/A (5), 10QSB/A (5), 8-K/A (5), SC 13D (4), SC 13D/A (3), SC 13G/A (3), NTN 10Q (2), SC 13G (2), 10-K/A (1), 10KSB40 (1), 10SB12G (1), 5 (1), 8-K12G3 (1), DEF 14C (1), PRE 14A (1), PRE 14C (1), REGDEX (1), S-8 (1), SC 13E3 (1), SC 13E3/A (1)

  • Latest filingsAnnual report (10-K) Aug 31, 2026
    Quarterly report (10-Q) Oct 15, 2026
    Latest 8-K (8-K) Oct 10, 2024

Risk factors and legal proceedings

The risks GREYSTONE LOGISTICS, INC. names in Item 1A of its 10-K filed Aug 31, 2026: 25 risks under these headings, as written.5

  • Our business could be affected by changes in the availability of raw materials.
  • Greystone’s business could be affected by competition and rapid technological change.
  • Historically, Greystone was dependent on a few large customers.
  • We may not be able to effectively protect Greystone’s patents and proprietary rights.
  • Our business could be affected by changes or new legislation regarding environmental matters.
  • Our 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 which entitles them to certain voting rights, including the right to elect a majority of Greystone’s Board of Directors.
  • Our common stock is a “penny stock” under SEC rules. It may be more difficult to sell securities classified as “penny stock.”
  • Substantial future sales of shares of our common stock could cause the market price of our common stock to decline.
  • 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.
The other 13 risks
  • Greystone may issue additional equity securities, which would lead to further dilution of Greystone’s issued and outstanding stock.
  • We may not have sufficient insurance coverage and an interruption of our business or loss of a significant amount of property could have a material adverse effect on our financial condition and operations.
  • We could become involved in claims or litigations that may result in adverse outcomes.
  • Security breaches of confidential customer and employee information may adversely affect our business.
  • As a result of being a public company, we are subject to additional reporting and corporate governance requirements that require additional management time, resources, and expense.
  • If we fail to maintain effective internal control over financial reporting, the price of our securities may be adversely affected.
  • We are required to comply with certain provisions of Section 404 of the Sarbanes-Oxley Act and if we fail to continue to comply, our business could be harmed and the price of our securities could decline.
  • Shares eligible for future sale may adversely affect the market.
  • We do not have any long-term contracts with our suppliers or with our customers, and we do not have many written contracts with our customers, and if we cannot maintain these relationships or if we or our suppliers experience manufacturing problems or delays, our financial results will be negatively affected.
  • An unexpected interruption in our warehousing facilities or if there is a lack of capacity at our warehousing facilities, it could reduce our sales and margins.
  • Any interruption to our distribution channels for our products could adversely affect our sales and results of operations.
  • 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.
  • We remain subject to risks associated with our indebtedness despite receiving lender accommodations.

Legal proceedings

From time to time, we may be involved in various claims and legal actions arising in the ordinary course of business. To the knowledge of our management, there are no legal proceedings currently pending against us which we believe would have a material effect on our business, financial position or results of operations and, to the best of our knowledge, there are no such legal proceedings contemplated or threatened.

The opening of Item 3, Legal Proceedings.5

Sources

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    SEC EDGAROther events
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