GRNO Reports 2010 Revenue on Target to Reflect 100% Increase Year Over Year, 50% Decrease in Expenses, With $4 Million in Assets
December 10 2010 - 4:15PM
Marketwired
Green Oasis Environmental Inc. (PINKSHEETS:
GRNO), a Florida corporation, is pleased to announce its wholly
owned subsidiary Custom Carbon Processing Inc. (CCP) has
experienced a strong year. With slightly more than 2 weeks
remaining in 2010, revenues are on target to increase by 100
percent year over year with expenses decreasing by 50 percent.
During the fourth quarter of 2010 slop oil processing has continued
to accelerate with current and new clients. This acceleration is
paving the way for a record year in revenue and net income for
2011. Currently, GRNO has 4 million dollars in assets owned free
and clear.
"During the last 12 months, we have experienced strong revenue
growth while reducing expenses by 50 percent. As indicated in the
2009 financial statements recently filed with our 8-K/A, our year
end expense was $1.4 million. Much of the expense was due to a
one-time charge attributed to the shutdown of a plant and
restructuring. We allocated $500,000 to ensure our facilities were
operating at efficient levels. 2010 financials will reflect a drop
in operating expense, which will in turn increase our bottom line,
also known as net income," stated Peter Margiotta,
President/CEO.
Mr. Margiotta further stated, "We are focusing on having our
2010 fiscal year financial statements audited and are planning on
releasing each quarter into the market as it is completed, and it
is part of our goal to keep our investors and the public updated,
while maintaining a strong and fundamentally sound company. We
anticipate 2011 to be a record year in revenue and net income due
to the continued increased in customers, slop oil processing, sale
of slop oil, rising oil prices and substantial reduction in
operating expenses in 2010."
Green Oasis -- "Green today for a stronger tomorrow"
About Green Oasis Environmental Inc.
Green Oasis Environmental, Inc. (GRNO) is dedicated to acquiring
and providing access to world class technologies available today
and has chosen to focus its efforts on seeking acquisitions of
technology and/or operations concerning the remediation of slop
oil, waste engine oil, and tank bottom oils. GRNO has every
intention of becoming the single best option for reclaiming oil to
pipeline specification from these waste products. Through the
Company's state of the art technology, GRNO will be able to process
these waste products at one of their facilities or at a customer's
site by way of implementing its portable processing technology.
About Custom Carbon Processing Inc.
Custom Carbon Processing Inc. (CCP) is a Wyoming based Company
formed in 2006 that has been operating in the Gillette, Wyoming
area since its inception. Through the technology that CCP has
developed, CCP is able to process slop oil (unrefined, non saleable
oil) into pipeline standard crude. Its first facility has proven
its capabilities to process up to 1,500 barrels of slop oil with a
conversion ratio of approximately 50% to finished crude. Through
its ongoing contract, CCP sells the processed slop oil to Shell
Trading (US) Company (www.shell.us). Shell Trading (US) Company is
a corporation that acts as the single market interface for Royal
Dutch Shell companies and affiliates in the United States with
offices in Houston, TX (headquarters); Dallas, TX; Denver, CO;
Midland, TX; and San Antonio, TX; and has an affiliated Shell
Trading company in Calgary, Alberta. Shell Trading buys and sells
more than five million barrels per day of hydrocarbons, is one of
the largest physical traders of hydrocarbons in the United States
and one of the world's largest energy trading companies.
In addition to its Wyoming facility, CCP is currently planning
expansion of its processing technology into Montana and North
Dakota, home of the Bakken (www.bakkenblog.com) and Three Forks
plays, said to be two of the largest oil plays in North
America.
For more information on Green Oasis Environmental, Inc. or
Custom Carbon Processing Inc., please visit
www.greenoasisenvironmental.com or contact Investor Relations at
(877) 207-3370.
Safe Harbor
Statements about the Company's future expectations and all other
statements in this press release other than historical facts are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such
forward-looking statements be subject to the safe harbors created
thereby.
The above information contains information relating to the
Company that is based on the beliefs of the Company and/or its
management, as well as assumptions made by any information
currently available to the Company or its management. When used in
this document, the words "anticipate," "estimate," "expect,"
"intend," "plans," "projects," and similar expressions, as they
relate to the Company or its management, are intended to identify
forward-looking statements. Such statements reflect the current
view of the Company regarding future events and are subject to
certain risks, uncertainties and assumptions, including the risks
and uncertainties noted. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
to be incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated, expected,
intended or projected. In each instance, forward-looking
information should be considered in light of the accompanying
meaningful cautionary statements herein. Factors that could cause
results to differ include, but are not limited to, successful
performance of internal plans, the impact of competitive services
and pricing and general economic risks and uncertainties.
Contact: Investor Relations Taylor Capitol, Inc. Stephen Taylor
(877) 207-3370 Email Contact
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