Oklahoma pink sheet stocks not all that pink

•  No. 4, Greystone Logistics, trading symbol GLGI.

The Tulsa company, founded in 1968 as a marine paint manufacturer, suffered significant losses before going dormant, then several years ago launched a high-risk, capital-intensive plan to become a leading manufacturer in the growing plastic pallet industry. Warren Kruger, who had placed a significant private investment, took over as CEO in 2003.

Greystone, with a manufacturing plant in Bettendorf, Iowa, designs, manufactures, sells and leases plastic pallets for the food and beverage, automotive, chemical, pharmaceutical and consumer product industries.

“The technology in its injection molding equipment, proprietary blend of recycled petrochemical resins, and patented pallet designs allow production of high-quality pallets more quickly and at a lower cost than competitors. The recycled plastic for its pallets helps control material costs while reducing environmental waste and provides cost advantages over users of virgin resins,” the company says on its website, www.greystonelogistics.com. “In five years Greystone has moved from the research and development phase to become the leading pallet manufacturer in the beer industry with over 3 million of their patented recycled plastic pallets delivered to major customers. In the next five years, the company intends to continue double-digit growth in sales in manufacturing and leasing with exceptional return on assets.”

Greystone, which was not in the Oklahoma Inc. rankings last year, had a one-year loss on stocks and dividends of 36.4 percent; a 22.7 percent increase in revenues; and loss in earnings per share of 450 percent. The company had a market capitalization of $1.828 million, revenues of $19.313 million and net loss of $865,000.

•  No. 5, EnXnet Inc., trading symbol, EXNT.

Tulsa-based EnXnet, formerly Southern Wireless, was founded in 1999 and develops, markets and licenses technologies, business strategies and practices for multimedia management products and services. Its products include DVDplus, a dual-sided hybrid optical disc with DVD on one side and CD on the other; Thin Disc, an optical disc with reduced thickness; Disc Security Tag, which provides unique item identification for customers and clients; and others.

The company, in partnership with BAHF LLC, develops Medical D-Tect-OR, a “retained foreign object detection system, which detects surgical instruments and surgical products, such as gauze, laparoscopy sponges, and operating room towels that are left in the body during a surgical procedure,” according to Yahoo! Finance. Ryan Corley, is chairman, CEO and president.

EnXnet “spent its early years finding and developing new technologies with great potential for making valuable impacts in the multimedia environment,” the company says on its website, www.enxnet.com. “Our unique products offer our clientele new methods to deter theft, improve listening and viewing experiences, and present information in exciting interactive formats. These technologies and related products, while at the leading edge in their respective applications, are affordable and provide needed solutions to multiple problems.”

EnXnet, No. 5 in the Oklahoma Inc. rankings last year, had a one-year loss on stocks and dividends of 58.3 percent; a 100 percent decrease in revenues; and increase in earnings per share of 110 percent. The company had a market capitalization of $2.152 million, no revenues and net loss of $220,000.