Diver,
I've worked in the banking sector for years and I know for certain that
no bank will verify any loan under consideration with anyone other than
the applicant. Perhaps you may want to contact Citicorp Public Relations
department, fax them a copy of the press release referencing their
involvement and ask for confirmation. I am sure that they would not
take lightly to their name being bantered about if it weren't true.
A possible PR contact is Susan Weeks at (212) 559-0580. The main
number for Citicorp is (212) 559-1000.
This type of do-diligance has worked for me in the past. Under the
circumstances I feel it is totally unnecessary. Research Fuels may be
another subsidiary or division of a larger entity therefore its phone
number would not be available. I know of no company that wants to
receive hundreds of calls verifying every deal.
Here is the news release regarding Research Fuels to refresh everyones'
memory.
CHARLESTON, S.C., Feb. 3 /PRNewswire/ -- Green Oasis Environmental, Inc.
(OTCBB: GRNO) today announced that it had received a signed contract for
the purchase of an EnviroEconomics(TM) Model 400 processing unit for
$1,650,000 from Research Fuels, Inc. of Somerset, N.J. Financing for the
unit, including a downpayment of $500,000, has been arranged by Research
Fuels, Inc. with Citicorp. Green Oasis intends to begin construction of the
unit shortly in order to make delivery in late March or early April. Research
Fuels, Inc. initially intends to process in excess of four million gallons of
waste oil annually into #2 diesel fuel for consumption by Research Fuels and
its affiliated companies in their day-to-day operations in order to reduce
internal operating costs.
William D. Carraway, president of Green Oasis, stated that "With this
order, we are now ready to commence regular production of our
EnviroEconomics(TM) waste oil processing units. The customized condenser and
pumps that will go into the manufacture of this unit are ready for shipment,
reducing significantly the time required to complete the unit from the time
required to manufacture our existing Charleston processing plant."
Green Oasis Environmental, Inc.'s patent pending process produces
synthetic fuels from waste motor oil in a closed cycle, one-step process. The
company manufactures equipment for its own facility as well as markets to
others.
SOURCE Green Oasis Environmental
-0- 02/03/97
/CONTACT: J. Spencer Maus, president of Microcap Consulting
Communications, 847-266-2055, Fax, 847-266-2058; or William D. Carraway,
president of Green Oasis Environmental, 803-722-5771, Fax, 803-722-5785,
E-Mail--grno("at" sign)awod.com URL greenoasis.com
(GRNO)
CO: Green Oasis Environmental, Inc.; Research Fuels, Inc.
ST: South Carolina, New Jersey
IN: ENV
SU: CON
PW
-- DEM016 --
1021 02/03/97 12:42 EST prnewswire.com
C Ya @ $24
Tom
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