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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO)
GRNO 0.00Nov 26 4:00 PM EST
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To: Scott Ferguson who wrote (9704)7/14/1998 5:54:00 PM
From: R KIEFHABER   of 13091
 
Only my opinion.

1) The SEC lawsuit was inevitable. It is necessary to be formally charged to arrive at any resolution. This will take time and I am betting that an out of court settlement is reached.

2) Negligence of our previous counsel, (Mr.Anderson I believe), is the responsibility of GRNO to prove not the SEC. This will come in the form of a lawsuit by GRNO. It doesn't make sense for GRNO to initiate this action until the SEC gets done and they know the total extent of the damages.

3) As for the MANOVA deal, I don't think the Turks give a damn what the SEC thinks of GRNO. They will closely monitor the construction of their refinery and not get too far ahead in their payments to GRNO.
No one else can provide the technology to solve their waste oil problem at this time.
From what I have read the Turkish parliament is still in session and I believe MANOVA is still expecting a vote on their tax relief before parliament convenes for the summer.

4) As far as Chapter 11, I don't think Bill has been pumping money into this company for the last twelve months to give up now. In fact, I am glad he and his wife sold the stock they did when they did because I believe it is this money that is keeping us alive now.

I for one am still optimistic that there will be a sale in the near future. Keep in mind that one refinery produces roughly $1M in profit. This could solve a lot of SEC problems.

As I have said before, as long as Bill keeps going to work, we still have a chance.

Best of luck to all,
BOB K
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