Ron,
Respectfully, your assertion that the now defunct (yet never announced
by GRNO) Brazilian deal (April 30 ,1996 press release) was instigated
by a distributor on Colorado is totally incorrect. The distributor's
name was Mr. Don Lynch of Rio Frio Texas. Mr. Lynch was President of
Specialty Recovery Systems (the company mentioned in the 4/30/96
Brazilian deal).
Below is some background due diligence I personally did regarding the
April 30, 1996 GRNO press release announcing financing of several
units to Specialty Recovery Systems. The press release also stated
that the Brazilian Development Bank was investing 1 million dollars
into GRNO. Please note that I am not injecting opinion or judgment.
I am simply sharing the information I discovered with other
shareholders of GRNO.
Since 1993, I have made several trips to Charleston and met with Bill
Carraway on each occasion. My company had exclusive distributorsh
rights for the GRNO process for 3 states: Texas, Louisiana and
Oklahoma. I sold my company (Green Oasis Envitonmental, TLO to
Specialty Recovery Systems in 1995. I retained my shares of GRNO.
My company was purchased by Mr. Don Lynch, then president of SRS. SRS has/had GRNO distribution rights for Central
and South America.
After reading the April 30th press release, I wrote Don Lynch
congratulating him regarding the information in that release.
Below is an excerpt from my letter.
Sept. 4th, 1996:
Dear Don:
First, we want to congratulate SRS for arranging financing and
investment input from the Brazilian Development Bank of 1 million
dollars into your project, as reported in the enclosed press
releases which I downloaded from the World Wide Web (INTERNET).
As I am sure you and Jamie are aware, Bill Carraway has created
a home page on the INTERNET (www.greenoasis.com) and has included
copies of all GOE related press releases. This good news has
certainly had a positive effect on both the Green Oasis Environmental
stock as well as the value of the Specialty Recovery Systems stock
(of which the WHT party presently owns 15,000 shares). If you have
not looked on the INTERNET at this home page you should certainly
do so as Specialty Recovery Systems is mentioned throughout.
(The letter also included other information regarding a business
arrangement between SRS and the former owners of GOE, TLO
(the company sold to Mr. Lynch).
_________________________________________________________________
Unbeknownst to me at the time. Mr. Lynch had passed away.
I received the following letter from his widow, Mrs. Susan Lynch
shortly thereafter.
_________________________________________________________________
Sept. 18, 1996
Dear Bill:
I received your letter dated September 4 and wanted to let you know
that Don had passed away on July 17 if you hadn't heard. He had been
suffering from cancer for quite a long time, as you might have been
aware.
I'm puzzled by your "congratulations." SRS has never done any
business and really has been a financial and emotional drain on us.
SRS never was able to produce a GOE plant, and as far as we know,
GOE has never gotten anything going. They could never produce
anything that really worked as far as we ever knew. I do not have
access to the INTERNET, but the press release you enclosed relating
to the Brazilian Development Bank is not correct. Jamie Lynch
(note: Senior Vice President of the Brazilian Development Bank,
officer of SRS, and nephew of Don Lynch) is the only person
who could have anything to do with the BDB, so I checked with him
to be sure I wasn't missing anything. Jamie told me he would like
to have obtained financing last year, but the GOE plant never worked
and the Brazilian Development Bank would not finance anything so
speculative. Jamie has given up on this project, and I can assure
you there are no Brazilian orders. Bill Carraway remained
uncommunicative with Don.
Another paragraph relating to the business relationship between
SRS and the former GOE,TLO owners has been omitted as it is not
relevant to GRNO stockholders)
Sincerely,
Susan Lynch
______________________________________________________________
Don Lynch was not only my business partner but a close friend.
He was brilliant (A Princeton graduate) and of great character.
I am not interested in being flamed by members of this thread. I am
only providing information to the thread. Please do your own
research. Ask Bill Carraway, Bo,or Spencer what happened to the
Brazilian order. I am sure they will have some answer. I find it
curious that no follow-up press release or any announcement has been
provided by GRNO retracting or updating the April 30th press release.
DIVER |
